Churchill Agutu , Bjarne Steffen , Tobias S. Schmidt
{"title":"How do technology-inherent characteristics affect valuation processes in innovation systems?","authors":"Churchill Agutu , Bjarne Steffen , Tobias S. Schmidt","doi":"10.1016/j.eist.2024.100824","DOIUrl":null,"url":null,"abstract":"<div><p>Technology valuation processes describe how the value of an innovation is created, embedded and changed for society. They are therefore crucial to understanding a technology's speed of diffusion. Recent literature has highlighted the importance of technology-inherent characteristics for innovation processes, i.e. the creation of new technologies. However, the role of these characteristics in shaping the valuation processes and thereby the diffusion of new technologies remains unclear. To address this gap, we compare valuation processes for two competing technologies - Mini-grids and Solar Home Systems for rural electrification in Rwanda using an inductive case study. We derive three technology-inherent characteristics to explain differences in valuation between the two technologies: (i)the need for customization of technologies; (ii)the networked nature of technologies; and (iii)technological complementarity with mature technologies, which implies a greater valuation effort if the technology is characterized by organizational and institutional non-complementarities. We discuss the implications of our results for decision makers and future research.</p></div>","PeriodicalId":54294,"journal":{"name":"Environmental Innovation and Societal Transitions","volume":null,"pages":null},"PeriodicalIF":5.7000,"publicationDate":"2024-03-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S2210422424000157/pdfft?md5=8c8a50f0b005672463ff64a60420e69c&pid=1-s2.0-S2210422424000157-main.pdf","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Environmental Innovation and Societal Transitions","FirstCategoryId":"93","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S2210422424000157","RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"ENVIRONMENTAL SCIENCES","Score":null,"Total":0}
引用次数: 0
Abstract
Technology valuation processes describe how the value of an innovation is created, embedded and changed for society. They are therefore crucial to understanding a technology's speed of diffusion. Recent literature has highlighted the importance of technology-inherent characteristics for innovation processes, i.e. the creation of new technologies. However, the role of these characteristics in shaping the valuation processes and thereby the diffusion of new technologies remains unclear. To address this gap, we compare valuation processes for two competing technologies - Mini-grids and Solar Home Systems for rural electrification in Rwanda using an inductive case study. We derive three technology-inherent characteristics to explain differences in valuation between the two technologies: (i)the need for customization of technologies; (ii)the networked nature of technologies; and (iii)technological complementarity with mature technologies, which implies a greater valuation effort if the technology is characterized by organizational and institutional non-complementarities. We discuss the implications of our results for decision makers and future research.
期刊介绍:
Environmental Innovation and Societal Transitions serves as a platform for reporting studies on innovations and socio-economic transitions aimed at fostering an environmentally sustainable economy, thereby addressing structural resource scarcity and environmental challenges, particularly those associated with fossil energy use and climate change. The journal focuses on various forms of innovation, including technological, organizational, economic, institutional, and political, as well as economy-wide and sectoral changes in areas such as energy, transport, agriculture, and water management. It endeavors to tackle complex questions concerning social, economic, behavioral-psychological, and political barriers and opportunities, along with their intricate interactions. With a multidisciplinary approach and methodological openness, the journal welcomes contributions from a wide array of disciplines within the social, environmental, and innovation sciences.