1. 1 Summary This thesis intends to answer three questions: First, what is a lead market; second, what constitutes a lead market, and third, how companies can harness lead markets to generate global innovations. Considering the international, cross-border diffu sion of innovations one can observe that a particular technological design such as the facsimile machine, the personal computer or the mobile cellular telephone is often adopted by one country or region much earlier than by other countries which subsequently follow this country, which I will call the lead market. A lead market is defined as a country that adopts an innovation that is subsequently adopted worldwide. When different designs of an innovation compete internationally, the design preferred in the lead market becomes the global dominant design. The study suggests a theoretical explanation for the phenomena of lead markets and collects empirical evidence from a detailed case study of the cellular mobile tele of an innovation design adopted first phone industry. The international diffusion by the lead market, i. e. subsequent adoption of an innovation design preferred in the lead market by other countries, can be put down to the special market context in the lead market. The market context includes demand preferences, the environ mental condition and the degree of competition. Multinational firms are often confronted not only with varying market acceptance of new products and processes from country to country, but with national prefer ences for particular specifications of an innovation, i. e.

Why does one country take the lead over others in the development and introduction of environmental innovations? This book analyzes lead markets for innovations such as fuel cells and photovoltaics, and offers insight into why this is. The authors use case studies to illustrate the policy framework that favors environmental innovation, and offer recommendations for research and development, environmental and industrial policies.

Nils Levsen focuses on the international diffusion of product and service innovations for elderly users. In particular, the existence and location of lead markets is being investigated. Lead markets are characterized by their early adoption of innovations and their influence on design choice in a subsequent international diffusion process. Finally, two boundary conditions to the applicability of lead market theory are being identified and described.

1. 1 Summary This thesis intends to answer three questions: First, what is a lead market; second, what constitutes a lead market, and third, how companies can harness lead markets to generate global innovations. Considering the international, cross-border diffu sion of innovations one can observe that a particular technological design such as the facsimile machine, the personal computer or the mobile cellular telephone is often adopted by one country or region much earlier than by other countries which subsequently follow this country, which I will call the lead market. A lead market is defined as a country that adopts an innovation that is subsequently adopted worldwide. When different designs of an innovation compete internationally, the design preferred in the lead market becomes the global dominant design. The study suggests a theoretical explanation for the phenomena of lead markets and collects empirical evidence from a detailed case study of the cellular mobile tele of an innovation design adopted first phone industry. The international diffusion by the lead market, i. e. subsequent adoption of an innovation design preferred in the lead market by other countries, can be put down to the special market context in the lead market. The market context includes demand preferences, the environ mental condition and the degree of competition. Multinational firms are often confronted not only with varying market acceptance of new products and processes from country to country, but with national prefer ences for particular specifications of an innovation, i. e.

A colorful history of US research universities, and a market-based theory of their global success. American education has its share of problems, but it excels in at least one area: university-based research. That’s why American universities have produced more Nobel Prize winners than those of the next twenty-nine countries combined. Economist Miguel Urquiola argues that the principal source of this triumph is a free-market approach to higher education. Until the late nineteenth century, research at American universities was largely an afterthought, suffering for the same reason that it now prospers: the free market permits institutional self-rule. Most universities exploited that flexibility to provide what well-heeled families and church benefactors wanted. They taught denominationally appropriate materials and produced the next generation of regional elites, no matter the students’—or their instructors’—competence. These schools were nothing like the German universities that led the world in research and advanced training. The American system only began to shift when certain universities, free to change their business model, realized there was demand in the industrial economy for students who were taught by experts and sorted by talent rather than breeding. Cornell and Johns Hopkins led the way, followed by Harvard, Columbia, and a few dozen others that remain centers of research. By the 1920s the United States was well on its way to producing the best university research. Free markets are not the solution for all educational problems. Urquiola explains why they are less successful at the primary and secondary level, areas in which the United States often lags. But the entrepreneurial spirit has certainly been the key to American leadership in the research sector that is so crucial to economic success.

Revolutionary ideas on how to use markets to achieve fairness and prosperity for all Many blame today's economic inequality, stagnation, and political instability on the free market. The solution is to rein in the market, right? Radical Markets turns this thinking on its head. With a new foreword by Ethereum creator Vitalik Buterin and virtual reality pioneer Jaron Lanier as well as a new afterword by Eric Posner and Glen Weyl, this provocative book reveals bold new ways to organize markets for the good of everyone. It shows how the emancipatory force of genuinely open, free, and competitive markets can reawaken the dormant nineteenth-century spirit of liberal reform and lead to greater equality, prosperity, and cooperation. Only by radically expanding the scope of markets can we reduce inequality, restore robust economic growth, and resolve political conflicts. But to do that, we must replace our most sacred institutions with truly free and open competition—Radical Markets shows how.