Nurturing the Accumulation of Innovations: Lessons from the Internet
In: Accelerating Energy Innovation: Insights from Multiple Sectors
AbstractThe innovations that became the foundation for the Internet originate from two eras that illustrate two distinct models for accumulating innovations over the long haul. The pre-commercial era illustrates the operation of several useful non-market institutional arrangements. It also illustrates a potential drawback to government sponsorship â in this instance, truncation of exploratory activity. The commercial era illustrates a rather different set of lessons. It highlights the extraordinary power of market-oriented and widely distributed investment and adoption, which illustrates the power of market experimentation to foster innovative activity. It also illustrates a few of the conditions necessary to unleash value creation from such accumulated lessons, such as standards development and competition, and nurturing legal and regulatory policies.
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- Shane Greenstein, 2010. "Nurturing the Accumulation of Innovations: Lessons from the Internet," NBER Working Papers 15905, National Bureau of Economic Research, Inc.
- Greenstein, Shane, 2010. "Nurturing the Accumulation of Innovations: Lessons from the Internet," Working paper 574, Regulation2point0.
- L86 - Industrial Organization - - Industry Studies: Services - - - Information and Internet Services; Computer Software
- O31 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
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