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Economic Effects of Open Innovation

In: Business Model Design Compass

Author

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  • JinHyo Joseph Yun

    (Tenured Researcher of DGIST and Professor of Open Innovation Academy of SOItmC)

Abstract

We study the economic effects of open innovation, which has been recognized as an economic phenomenon and economic paradigm that surpasses the management strategies of individual enterprises. First, we look into limited open innovation phenomena such as long tail phenomena and App Store. Next, the economic characteristics of open innovation have been identified: increases of marginal products, economy of diversity, and X-efficiency improvement.

Suggested Citation

  • JinHyo Joseph Yun, 2017. "Economic Effects of Open Innovation," Management for Professionals, in: Business Model Design Compass, chapter 3, pages 41-48, Springer.
    • Handle: RePEc:spr:mgmchp:978-981-10-4128-0_3
    DOI: 10.1007/978-981-10-4128-0_3
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