Free Innovation by Eric von HippelFree Innovation by Eric von Hippel

Free Innovation

byEric von Hippel

Hardcover | November 18, 2016

Pricing and Purchase Info

$32.67 online 
$38.95 list price save 16%
Earn 163 plum® points
Quantity:

In stock online

Ships free on orders over $25

Not available in stores

about

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.

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.
Loading
Title:Free InnovationFormat:HardcoverDimensions:240 pages, 9 × 6 × 0.62 inPublished:November 18, 2016Publisher:The MIT PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0262035219

ISBN - 13:9780262035217

Reviews

Editorial Reviews

The invaluable insights and solutions described in Free Innovation must be recognized and supported by all consumer goods producers serious about sustainable growth. Our company uses these methods with great commercial success.