The Elgar Companion to Innovation and Knowledge Creation
Show Less

The Elgar Companion to Innovation and Knowledge Creation

Edited by Harald Bathelt, Patrick Cohendet, Sebastian Henn and Laurent Simon

This unique Companion provides a comprehensive overview and critical evaluation of existing conceptualizations and new developments in innovation research. It draws on multiple perspectives of innovation, knowledge and creativity from economics, geography, history, management, political science and sociology. The Companion brings together leading scholars to reflect upon innovation as a concept (Part I), innovation and institutions (Part II), innovation and creativity (Part III), innovation, networking and communities (Part IV), innovation in permanent spatial settings (Part V), innovation in temporary, virtual and open settings (Part VI), innovation, entrepreneurship and market making (Part VII), and the governance and management of innovation (Part VIII).
Buy Book in Print
Show Summary Details
You do not have access to this content

Chapter 11: Innovation and lock-in

Uwe Cantner and Simone Vannuccini

Abstract

The concept of lock-in can certainly be listed among those weighing most heavily in the conceptual toolbox used by scholars of innovation and evolutionary economics. Processes of competitive diffusion, or choice between alternatives of ‘unknown merit’, are known to generate lock-in, that is, inflexible outcomes, and this finding has critical implication for the study of economic dynamics and history-dependent processes. In this chapter, we first summarize what is known in the economic literature about the nature of lock-in, and we discuss if lock-ins are really inescapable, especially when innovation is concerned. Second, we employ the replicator dynamics model, suggesting a parallel between monopolization and lock-in, and show that the convergence of a system to the dominance of a single alternative does not have to be inescapable; rather, it is strongly dependent on the regime and parameters characterizing the competition between alternatives. In particular, the interaction of positive reinforcements driving market selection and negative reinforcements occurring at the level of each individual alternative generates outcomes far from the lock-in into one uncontestable alternative.

You are not authenticated to view the full text of this chapter or article.

Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.

Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.

Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.


Further information

or login to access all content.