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Bottom-up Economics. Foundations of a Theory of Distributed and Open Value Creation

In: The Decentralized and Networked Future of Value Creation

Author

Listed:
  • Tobias Redlich

    (Helmut Schmidt Universiy)

  • Manuel Moritz

    (Helmut Schmidt Universiy)

Abstract

In many industries, we can observe a paradigm shift from traditional value creation towards value co-creation and open production approaches. The boundaries of companies dissolve and many more stakeholders (suppliers, customers, users, community members etc.) are integrated into the value creation process. Thus, a new understanding and taxonomy of value creation becomes necessary to serve as a reference model in order to describe new phenomena based on the principles of so-called Bottom-up Economics. In an industrial context, openness as a precondition for participation, cooperation and interaction can be seen as a critical success factor. The need for a theory of a distributed and open value creation will be revealed by integrating case observations and conceptual insights from literature that are concerned with co-creation phenomena from a Production Engineering point of view.

Suggested Citation

  • Tobias Redlich & Manuel Moritz, 2016. "Bottom-up Economics. Foundations of a Theory of Distributed and Open Value Creation," Progress in IS, in: Jan-Peter Ferdinand & Ulrich Petschow & Sascha Dickel (ed.), The Decentralized and Networked Future of Value Creation, pages 27-57, Springer.
    • Handle: RePEc:spr:prochp:978-3-319-31686-4_3
    DOI: 10.1007/978-3-319-31686-4_3
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    Cited by:

    1. Haradhan Kumar MOHAJAN, 2020. "Circular Economy can Provide a Sustainable Global Society," Journal of Economic Development, Environment and People, Alliance of Central-Eastern European Universities, vol. 9(3), pages 38-62, September.
    2. MOHAJAN, Haradhan Kumar, 2020. "Circular Economy: An Inevitability Issue For The Sustainable Human Civilization," Annals of Spiru Haret University, Economic Series, Universitatea Spiru Haret, vol. 20(3), pages 23-54.

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