The economics of the frugal direction of technological change: resource constraints scheme, induced direction models, and demand-side approaches

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Chapter 3 in The Economics of Frugal Innovation, 2023, pp 34-51 from Edward Elgar Publishing

Abstract: In this chapter we analyse the dynamic implications of technological frugality as a new emerging direction of Technological Change. The use of tools of the Economics of Innovation is explored to account for the trends in the new direction of technological change related to FI. We retain three contributions: 1) The resource constraints approach sets up an interesting frame providing insights related to the incentives received by the firm for innovating, 2) the relevance of the frontier of innovation possibility as a tool for explaining the firm’s decisions related to the direction taken by innovations in favour of frugality, 3) as far as the direction of FI related to demand is concerned the basic aim of this type of technological change is to trigger a variation in market demand emanating from less rich people.

Keywords: Business and Management; Development Studies; Economics and Finance; Innovations and Technology; Sustainable Development Goals (search for similar items in EconPapers)
Date: 2023
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