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Free Innovation - by Eric Von Hippel (Paperback)

Free Innovation - by  Eric Von Hippel (Paperback) - 1 of 1
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Highlights

  • A leading innovation scholar explains the growing phenomenon and impact of free innovation, in which innovations developed by consumers and given away "for free.
  • About the Author: Eric von Hippel, the T. Wilson (1953) Professor of Technological Innovation at the MIT Sloan School of Management, is a leading research scholar on the economics and management of free, open, and distributed innovation.
  • 240 Pages
  • Business + Money Management, Entrepreneurship

Description



Book Synopsis



A leading innovation scholar explains the growing phenomenon and impact of free innovation, in which innovations developed by consumers and given away "for free."

In this book, Eric von Hippel, author of the influential Democratizing Innovation, integrates new theory and research findings into the framework of a "free innovation paradigm." Free innovation, as he defines it, involves innovations developed by consumers who are self-rewarded for their efforts, and who give their designs away "for free." It is an inherently simple grassroots innovation process, unencumbered by compensated transactions and intellectual property rights.

Free innovation is already widespread in national economies and is steadily increasing in both scale and scope. Today, tens of millions of consumers are collectively spending tens of billions of dollars annually on innovation development. However, because free innovations are developed during consumers' unpaid, discretionary time and are given away rather than sold, their collective impact and value have until very recently been hidden from view. This has caused researchers, governments, and firms to focus too much on the Schumpeterian idea of innovation as a producer-dominated activity.

Free innovation has both advantages and drawbacks. Because free innovators are self-rewarded by such factors as personal utility, learning, and fun, they often pioneer new areas before producers see commercial potential. At the same time, because they give away their innovations, free innovators generally have very little incentive to invest in diffusing what they create, which reduces the social value of their efforts.

The best solution, von Hippel and his colleagues argue, is a division of labor between free innovators and producers, enabling each to do what they do best. The result will be both increased producer profits and increased social welfare--a gain for all.



About the Author



Eric von Hippel, the T. Wilson (1953) Professor of Technological Innovation at the MIT Sloan School of Management, is a leading research scholar on the economics and management of free, open, and distributed innovation.
Dimensions (Overall): 9.0 Inches (H) x 6.0 Inches (W) x .55 Inches (D)
Weight: .79 Pounds
Suggested Age: 22 Years and Up
Number of Pages: 240
Genre: Business + Money Management
Sub-Genre: Entrepreneurship
Publisher: MIT Press
Format: Paperback
Author: Eric Von Hippel
Language: English
Street Date: April 30, 2024
TCIN: 91677419
UPC: 9780262551922
Item Number (DPCI): 247-44-1365
Origin: Made in the USA or Imported
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Shipping details

Estimated ship dimensions: 0.55 inches length x 6 inches width x 9 inches height
Estimated ship weight: 0.79 pounds
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