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The theory was popularized by Everett Rogers in his book Diffusion of Innovations, first published in 1962. [1] Rogers argues that diffusion is the process by which an innovation is communicated through certain channels over time among the participants in a social system.
Innovation economics is new, and growing field of economic theory and applied/experimental economics that emphasizes innovation and entrepreneurship. It comprises both the application of any type of innovations, especially technological, but not only, into economic use.
In Marxian economics, the equivalent to Schumpeterian rent is the extra surplus value that is extracted from the laborer during the rise of local productivity, meaning the development of the productive forces through innovation owned by the respective capitalist, while all other enterprises are left with yet undeveloped productive forces.
Everett M. "Ev" Rogers (March 6, 1931 – October 21, 2004) was an American communication theorist and sociologist, who originated the diffusion of innovations theory and introduced the term early adopter. [citation needed] He was distinguished professor emeritus in the department of communication and journalism at the University of New Mexico ...
This explains the non-linearity of learning-by-doing cost reduction, as seen for example in semiconductor manufacturing [3] or with solar PV production. [4] The concept of learning-by-doing has been used by Kenneth Arrow in his design of endogenous growth theory to explain effects of innovation and technical change. [5]
Jill Lepore, "What the Theory of 'Disruptive Innovation' Gets Wrong", The New Yorker, June 23, 2014. Igami, Mitsuru (2017). "Estimating the Innovator's Dilemma: Structural Analysis of Creative Destruction in the Hard Disk Drive Industry, 1981–1998". Journal of Political Economy. 125 (3): 798– 847. doi:10.1086/691524. S2CID 222427427.
This model has been widely influential in marketing and management science. In 2004 it was selected as one of the ten most frequently cited papers in the 50-year history of Management Science. [3] It was ranked number five, and the only marketing paper in the list. It was subsequently reprinted in the December 2004 issue of Management Science. [3]
Crossing the Chasm: Marketing and Selling High-Tech Products to Mainstream Customers or simply Crossing the Chasm (1991, revised 1999 and 2014), is a marketing book by Geoffrey A. Moore that examines the market dynamics faced by innovative new products, with a particular focus on the "chasm" or adoption gap that lies between early and mainstream markets.