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  4. Conceptualizing market formation for transformative policy
 
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2022
Journal Article
Title

Conceptualizing market formation for transformative policy

Abstract
Transitions are hardly conceivable without understanding how new markets are formed. However, there is still an incipient conceptualization of market formation in the context of transformation and transformative policy. Drawing on existing perspectives of market formation in economics of innovation, sociology of markets and marketing studies literature, this paper develops a framework for characterizing, differentiating and analyzing new market formation processes. We use three case studies to demonstrate how the framework is able to capture the dynamic and interconnected nature of market formation. The market formation framework serves to diagnose potential misalignments, bottlenecks and failures, to identify entry points for policy to intervene in market formation and support transformative innovation.
Author(s)
Boon, Wouter P.C.
Utrecht Univ., Copernicus Institute of Sustainable Development
Edler, Jakob  orcid-logo
Fraunhofer-Institut für System- und Innovationsforschung ISI  
Robinson, Douglas K.R.
Laboratoire Interdisciplinaire Sciences Innovations Sociétés (LISIS); CNRS France
Journal
Environmental innovation and societal transitions  
Open Access
DOI
10.24406/publica-r-271420
10.1016/j.eist.2021.12.010
File(s)
N-645693.pdf (1.39 MB)
Rights
CC BY 4.0: Creative Commons Attribution
Language
English
Fraunhofer-Institut für System- und Innovationsforschung ISI  
Keyword(s)
  • market formation

  • transition

  • policy entry points

  • transformative innovation policy

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