A game with rules in the making - how the high probability of waiting games in nanomedicine is being mitigated through distributed regulation and responsible innovation

Joël d'Silva, Douglas K. R. Robinson () and Clare Shelley-Egan
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Joël d'Silva: University of Twente
Douglas K. R. Robinson: LATTS - Laboratoire Techniques, Territoires et Sociétés - UPEM - Université Paris-Est Marne-la-Vallée - ENPC - École nationale des ponts et chaussées - CNRS - Centre National de la Recherche Scientifique, CGS i3 - Centre de Gestion Scientifique i3 - Mines Paris - PSL (École nationale supérieure des mines de Paris) - PSL - Université Paris Sciences et Lettres - I3 - Institut interdisciplinaire de l’innovation - CNRS - Centre National de la Recherche Scientifique
Clare Shelley-Egan: University of Twente

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Abstract: The potential benefits of nanotechnologies in healthcare are widely expected to be enormous and a considerable amount of investment is already pouring into public research in this area. These high expectations of benefits are coupled with uncertainty surrounding the potential risks of the prospective products containing nanomaterials, in addition to concerns about the adequacy of regulatory oversight. These challenges add another level of uncertainty for those deciding to invest in nanotechnology R&D and threaten to impede product development and commercialisation. Nanotechnology in healthcare (often labelled as nanomedicine) presents a situation where waiting games are a strong possibility; however, waiting games have been avoided (so far) through the unlocking of the dominant regulation regime. This paper describes how an innovation impasse in nanomedicine could have ensued if the traditional wait and watch strategies of legislators and regulators had been followed. We describe how waiting games were avoided through the opening up and distribution of regulatory approaches.

Keywords: regulation; responsible development; nanotechnology; nanomedicine; definitions; waiting games (search for similar items in EconPapers)
Date: 2012
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Citations: View citations in EconPapers (3)

Published in Technology Analysis and Strategic Management, 2012, 24 (6), pp.583-602. ⟨10.1080/09537325.2012.693671⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-00794425

DOI: 10.1080/09537325.2012.693671

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