The risk-reward nexus in the innovation-inequality relationship: who takes the risks? Who gets the rewards?
August 2, 2013 Editor 0
We present a framework, called the Risk-Reward Nexus, to study the relationship between innovation and inequality. We ask the following question: What types of economic actors (workers, taxpayers, shareholders) make contributions of effort and money to the innovation process for the sake of future, inherently uncertain, returns? Are these the same types of economic actors who are able to appropriate returns from the innovation process if and when they appear? That is, who takes the risks and who gets the rewards? We argue that it is the collective, cumulative, and uncertain characteristics of the innovation process that make this disconnect between risks and rewards possible. We conclude by sketching out key policy implications of the Risk-Reward Nexus approach.
- The Customer Defines the Value of Innovation
- Firm-internal knowledge integration and the effects on innovation
- Climate, Environment and Early Human Innovation: Stable Isotope and Faunal Proxy Evidence from Archaeological Sites (98-59ka) in the Southern Cape, South Africa.
- Community-based education programs in Africa: faculty experience within the Medical Education Partnership Initiative (MEPI) network.
- Trust formation processes in innovative collaborations: Networking as knowledge building practices
- Big Data Demands Big Context
Tags: risk reward
Subscribe to our stories
- SL Crowd Green Solutions September 21, 2020
- Digital transformation in the banking sector: surveys exploration and analytics August 3, 2020
- Why Let Others Disrupt You? Take the Smart Self-Disruption Journey! August 3, 2020
- 5 Tips for Crowdfunding During the Pandemic August 3, 2020
- innovation + africa; +639 new citations August 3, 2020