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This chapter deals with the economics of prescription drugs and of insurance coverage for them. Sellers of drugs have temporary market power because of patents. Drugs are supplied under a cost structure with high fixed costs of research, discovery, and approval followed by low marginal cost of producing additional units; this structure does not permit competitive markets to exist during the period of patient protection. Health systems buy drugs for inpatients in the usual way, but outpatient and pharmacy sold drugs are priced above marginal cost with prices often distorted by insurance coverage. The result can be high prices (though not necessarily increasing ones). A potential solution to the inefficiencies in this market is an agreement between insurers and drug sellers to buy a predetermined volume with the marginal price of additional units low or zero – the so called “Netflix” model. The intent of above-cost pricing for drugs is to encourage the supply of innovative products, but evidence on whether the current patient system in the US achieves an ideal outcome is lacking.
The analysis of MDT regulation across specific use cases – particularly in mental health and well-being, commercial advertising, political advertising, and employment monitoring – suggests that MDTs, especially neurotechnologies, do not necessarily present entirely new legal questions or phenomena. Rather, they occasionally highlight existing deficiencies and weaknesses that have long been recognised, albeit sometimes exacerbating their effects. By strategically adapting and utilising existing laws and legal instruments, substantial improvements can be made to the legal framework governing MDTs. In some cases, stricter regulations are urgently needed, while in others, compliance and enforcement present significant challenges. Although recent legislation has created important opportunities to address these shortcomings, a political consensus has yet to be reached on all necessary aspects. Throughout the book, alternative approaches and adaptations de lege ferenda within both established and newly adopted laws have been proposed as sources of inspiration. The concluding remarks reiterate key legislative adaptations.
From the early days of navigating the world with bare hands to harnessing tools that transformed stones and sticks, human ingenuity has birthed science and technology. As societies expanded, the complexity of our tools grew, raising a crucial question: Do we control them, or do they dictate our fate? The trajectory of science and technology isn'tpredetermined; debates and choices shape it. It's our responsibility to navigate wisely, ensuring technology betters, not worsens, our world. This book explores the complex nature of this relationship, with 18 chapters posing and discussing a compelling 'big question.' Topics discussed include technology's influence on child development; big data; algorithms; democracy; happiness; the interplay of sex, gender, and science in its development; international development efforts; robot consciousness; and the future of human labor in an automated world. Think critically. Take a stand. With societal acceleration mirroring technological pace, the challenge is, can we keep up?
The fast-paced evolution of emotion technology and neurotechnology, along with their commercial potential, raises concerns about the adequacy of existing legal frameworks. International organizations have begun addressing these technologies in policy papers, and initial legislative responses are underway. This book offers a comprehensive legal analysis of EU legislation regulating these technologies. It examines four key use cases frequently discussed in media, civil society, and policy debates: mental health and well-being, commercial advertising, political advertising, and workplace monitoring. The book assesses current legal frameworks, highlighting the gaps and challenges involved. Building on this analysis, it presents potential policy responses, exploring a range of legal instruments to address emerging issues. Ultimately, the book aims to offer valuable insights for legal scholars, policymakers, and other stakeholders, contributing to ongoing governance debates and fostering the responsible development of these technologies.
The dynamic capabilities framework outlines the means by which the managers of business enterprises foster and exercise organizational and technological capabilities and business strategy to address current and anticipated market and geopolitical conditions. In a firm with strong dynamic capabilities, managers can establish and periodically renew the competitive advantage of the business enterprise by not just responding to but shaping the business environment. This Element relates the dynamic capabilities framework to important concepts from the business and economics literature, demonstrating how it applies to today's business challenges. It also offers a capabilities perspective on a theory of the firm. Most existing theories of the firm caricature today's business enterprise. For advanced students of business, this Element provides a deeper understanding of the dynamic capabilities framework. For managers and boards, it shows how the analytical tools and mindsets that help to make their firms future-ready can be better understood in terms of the dynamic capabilities framework. This Element is also available as Open Access on Cambridge Core.
Of the numerous theories of strategic management, the dynamic capabilities framework is perhaps the most encompassing. Dynamic capabilities are the factors that, if strong, allow an organization to create and deliver value to customers, outcompete rivals, and reap financial rewards over extended periods. The dynamic capabilities framework provides a system-level view of how resources and capabilities are assembled and orchestrated over successive rounds of competition, addressing management's role in determining future requirements and honing the organization's processes and structure to meet them. This Element presents the dynamic capabilities framework and compares it to other paradigms of strategic management and innovation. It demonstrates that these narrower approaches to strategic management and innovation can usefully be thought of as subsets of the dynamic capabilities framework. This will help students and practitioners understand disparate business concepts as part of a unified whole. This title is also available as Open Access on Cambridge Core.
This chapter draws all the threads together, highlighting the profound impact that artificial intelligence is likely to have on the landscape of intellectual property. It summarizes the core arguments of the book and sets out the author’s proposed strategies for adapting intellectual property law to the age of AI. By embracing these approaches, the chapter argues, one can ensure that intellectual property law continues to protect human creativity and innovation in the digital age.
This introductory chapter explores the foundation of intellectual property (IP) in the United States, specifically focusing on the history and purpose of copyright, patent, trademark, and trade secret. It highlights how these pillars have maintained their utilitarian character despite major technological revolutions and emphasizes the disruptive potential of artificial intelligence (AI). As AI technologies increasingly influence creative processes, they raise significant questions about the nature of human contribution and the value of IP. This chapter introduces some of the legal implications of generative AI, including concerns over copyright infringement and the potential need for new IP protections for AI-generated works. It outlines how the rise of AI challenges the traditional metrics of progress and the standards by which human contributions are evaluated. The author suggests that rather than resisting these changes, society should adapt its understanding of IP in a way that reflects the evolving technological landscape. Ultimately, the author argues for a nuanced approach to IP law that recognizes the shifting boundaries of what constitutes valuable innovation, advocating for humility in navigating the complexities of this ongoing transformation. The discussion sets the stage for the rest of the book.
This descriptive study examines participant reactions to a new framework categorizing aging-in-place (AIP) services with AI and robotics through a think-aloud method. Using grounded theory, we examined older adults’ perceptions of AI’s role in promoting independence. The framework consists of four AI archetypes that address the cognitive and functional needs of the elderly with physical or digital interventions: Advisor AI, Burler Robot AI, Valet Robot AI, and Conductor AI. The authors conducted virtual interviews with four Boston-based retirees (mean age 70), revealing expectations and concerns regarding health monitoring, routine assistance, and social well-being. The findings emphasize inclusivity, adaptability, and practical relevance for aging populations and underscore the importance of trust, lifestyle integration, and adaptability in fostering meaningful AIP applications.
Legumes offer valuable agricultural and nutritional properties to face the urgent need for food system changes. To eco-design legume-based products, the value chains need to consider the constraints of their stakeholders, from farmers to consumers. This article describes an eco-innovation approach combining collaborative value mapping with KCP® workshops to design sustainable legume-based foods. This eco-innovation approach led to the emergence of expected concepts linked to the properties of products and more disruptive concepts related to dynamics in the value chain. Existing knowledge and knowledge gaps were identified. The results highlight the value of articulating value mapping and KCP® workshops. The approach proved to foster innovative, systemic solutions that consider both stakeholders’ needs and sustainability.
Customer engagement is crucial for success and innovation in digital businesses, but its impact on digital startups, particularly on business performance, is underexplored. This study investigates the relationship between customer-related digitalization factors, engagement, and business performance. Using a cross-sectional survey and Partial Least Squares Structural Equation Modeling, data from 125 startups were analyzed. The findings reveal that digitalization factors, encompassing Data Security, Transparency, Consumer Reviews, and Effective Communication, significantly impact customer engagement and digital business performance. Additionally, customer engagement mediates the relationship between digitalization factors and digital business performance, highlighting its critical role in fostering customer loyalty, communication, and co-creation.
Most innovation performance measurement approaches focus on ex-post outcome data, leaving decision-makers without timely guidance during the early phases of new product development (NPD). This gap is particularly critical in high-risk, high-regulation industries such as Urban Air Mobility (UAM), where long development cycles, regulatory hurdles, and uncertain user adoption demand real-time, in-process innovation metrics. In this paper, we propose a Desirability-Feasibility-Viability (DFV) framework that links key innovation phases (Discovery, Development, and Commercialization) to leading indicators that track innovation progress before market entry. Using UAM as an illustrative case study, we demonstrate how our framework enables stakeholders to navigate uncertainty, optimize resource allocation, and make data-driven innovation decisions.
The automotive industry faces many simultaneous challenges like transitioning from combustion engines to electric vehicles. Suppliers must adapt to changing markets and develop new solutions. Existing transformation approaches focus on strategic goals and comprehensive implementation. However, there is no focus on the transition of the product portfolio. This paper presents a design-thinking-based approach to rapidly generate innovative product ideas. First, company assets, product portfolios, and market environments are analysed to define the ideation focus. Next, these are recombined by interdisciplinary teams to generate ideas, which are then evaluated. In a workshop with 15 experts from an exhaust pipe manufacturer, over 400 ideas were generated and refined into 15 actionable concepts in five hours. This approach supports rapid, cost-effective innovation and strategic transformation.
Many developments, such as the Amazon Fire Phone and Microsoft Zune, fail in the market, often due to addressing non-existent needs or providing no added value. Therefore, it is necessary to validate these needs and benefits in the early phases of development projects. One way to do this is by using a product profile that models needs and benefits and makes them accessible for validation. According to the literature, there are nine challenges and four fields of action for developing a design support in validating these product profiles. These fields of action range from stakeholder integration, method selection, and prototyping to the interpretation of results. This publication evaluates and describes the challenges and fields of action derived through expert interviews and literature research. A total of 28 publications were analyzed, and eight expert interviews were conducted.
Facing increasingly dynamic market environments and global challenges such as climate change and resource scarcity, companies are under constant pressure to innovate and remain competitive. As technology is a key enabler, companies need to understand the drivers of technological change. Technology Foresight systematically identifies and analyzes emerging technologies to support engineering design decisions. However, the growing volume of data is outpacing manual processing capabilities. This research explores the integration of Generative AI to enhance Technology Foresight by automating technology analysis and information synthesis. This paper presents a comprehensive problem analysis, reviews existing solutions, and proposes a framework that demonstrates the potential of Large Language Models combined with a Retrieval Augmented Generation architecture to transform Technology Foresight.
To support the transition towards a circular economy in hospitals, this qualitative study aimed at understanding how the adoption of reusable surgical gown can be facilitated. It investigates design features that enhance usability and promote sustained (re)use. A wearing test identified difficulties in wearing reusable gowns. Data collection included observations of 34 surgeries and a survey completed by 73 respondents. Thematic analysis revealed opportunities to improve usability, such as optimising packaging to speed up donning, a wider neck opening to reduce discomfort, and incorporating ‘tearable’ closures to simplify doffing. Innovation strategies relevant to the users involve thermal regulation, monitoring gown performance, and including reusable gowns in custom procedure tray packaging. These findings are discussed in relation to design adjustments and value-chain partners.
Digital Twins are widely recognized as a transformative technological trend, yet their potential to foster innovation, particularly their generative capabilities, remains underexplored. This paper investigates how they can transcend traditional optimization roles to serve as tools for advancing knowledge and generativity in the design of their physical counterparts. Leveraging C-K theory, a framework is presented for modeling design processes with Digital Twins, characterizing design scenarios and identifying two distinct forms of generativity. An illustration of these results shows how designers can leverage Digital Twin reflexive capacity to challenge and reconfigure underlying knowledge of their physical counterparts. The transformative value of this reflexivity, combined with remodeling capabilities, is highlights the exploration of new design pathway for Digital Twins themselves.
In this paper, two case studies are presented to validate a process model for the future robust advancement of product portfolios. In the first case study, the process model is implemented for a supplier in the automotive industry and evaluated by two company experts. In the second case study, the process model is implemented in a medical equipment company for 6 months. The evaluation shows that the investigated model can be applied and supports the process. The success evaluation is only assessed as expected added value, as the added value can only be observed when realizing the product portfolio. The evaluation in two case studies confirms the applicability and support potential of the model in corporate practice. At the same time, the need for improvement and multi-year implementation in the companies is identified.