Evolutionary Economics, Responsible Innovation and Demand: Making a Case for the Role of Consumers

Philosophy of Management 17 (1):7-39 (2018)

Abstract
This paper contributes to the conceptualisation of responsible innovation by proposing an evolutionary economic approach that focuses on the role of consumers in the innovation process. After a discussion of the philosophical foundations and ethical implications of this approach, which bears an explanatory potential that has not been adequately considered in previous discussions of responsible innovation, we present a first step towards capturing the important but often neglected role of consumers in innovation processes : We propose an agent-based model that incorporates a multidimensional space of characteristics in which new products or services are represented by more than the mere aspect of price and quality. Instead, innovations are denoted by a large set of characteristics, including also negative or harmful ones. The model is used to illustrate that consumers’ heterogeneity and bounded rationality – even if considered in a simple manner – indeed play a crucial role in the creation and diffusion of responsible innovation which can and should be used for further work in this field and for possible extensions of the model.
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DOI 10.1007/s40926-017-0054-1
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References found in this work BETA

The Problem of Global Justice.Thomas Nagel - 2005 - Philosophy and Public Affairs 33 (2):113-147.
After Virtue: A Study in Moral Theory.Samuel Scheffler - 1983 - Philosophical Review 92 (3):443.
Responsibility and Global Justice: A Social Connection Model.Iris Marion Young - 2006 - Social Philosophy and Policy 23 (1):102-130.

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