English, Article edition: Demand-pull, technology-push, and government-led incentives for non-incremental technical change Nemet, Gregory F.

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Physical Description
  • article
Language
  • English

Edition details

Title
  • Demand-pull, technology-push, and government-led incentives for non-incremental technical change
Author
  • Nemet, Gregory F.
Physical Description
  • article
Notes
  • Rising expectations about future demand for new technologies increase the incentives for investments in innovation by enlarging payoffs to successful innovations. How well does this notion of "demand-pull" apply to non-incremental technological change when demand is largely attributable to actions by governments? In this case, inventors of the most important inventions did not respond positively to strong demand-pull policies; filing of highly cited patents declined precipitously just as demand for wind power created a multi-billion dollar market. Three explanations for this apparent inconsistency with the demand-pull hypothesis played a role: (1) the rapid convergence on a single dominant design limited the market opportunity for non-incremental technical improvements; (2) even though the policies implemented were stringent enough to stimulate demand, uncertainty in their longevity dampened the incentives for inventions that were likely to take several years to pay off; and (3) alternative explanations, such as declining R&​D funding and weakening presidential engagement on energy, appear to have been important.
  • Demand-pull Technology policy Wind power
  • RePEc:eee:respol:v:38:y:2009:i:5:p:700-709
Language
  • English
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