Frugal innovation with the lens of economics analysis

Christian Le Bas

Chapter 19 in Elgar Encyclopedia on the Economics of Knowledge and Innovation, 2022, pp 157-164 from Edward Elgar Publishing

Abstract: The purpose of the communication is to review the points covered in the literature on Frugal Innovation (FI thereafter) as a new type of inclusive innovation. Four aspects summarize our ideas. With respect the definition of FI we put forth both the 3 criteria Model by Weyrauch and Herstatt (2017) and the existence of a new paradigm based on a lesser technological complexity. As far as FI historical time is concerned we distinguish 3 period (3 ages) for FI. Then we survey the key determinants of FI. At last, analyzing the factors supporting the diffusion of FI we show the crucial importance of sustainability at the core of FI.

Keywords: Business and Management; Economics and Finance; Innovations and Technology (search for similar items in EconPapers)
Date: 2022
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