Technological Innovation And Prize Incentives

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Technological Innovation and Prize Incentives

Author : Luciano Kay
Publisher : Edward Elgar Publishing
ISBN 13 : 1781006482
Total Pages : 250 pages
Book Rating : 4.7/5 (81 download)

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Book Synopsis Technological Innovation and Prize Incentives by : Luciano Kay

Download or read book Technological Innovation and Prize Incentives written by Luciano Kay and published by Edward Elgar Publishing. This book was released on 2012-01-01 with total page 250 pages. Available in PDF, EPUB and Kindle. Book excerpt: ÔThe recent renaissance in the use of prizes to spur innovation and extraordinary novel performance warrants close attention. Luciano Kay does so through a series of compelling case studies which shows the potential of prizes, the range of factors that influence their performance and the importance of understanding their non-pecuniary dimensions, even when there is a substantial purse. This is an important contribution to the innovation literature.Õ Ð David J. Teece, University of California, Berkeley, US ÔIn the last decade innovation prizes have caught the imagination of policy makers and rich donors alike; those who actually care about the process and outcome of prizes and not only the hype, would do well to read LucianoÕs new book.Õ Ð Dan (Danny) Breznitz, Georgia Institute of Technology, US Inducement prizes Ð in which cash rewards are offered to motivate the attainment of specific targets Ð have long been used to stimulate scientific discovery and technology research and development. This volume presents an empirical investigation of the effect of these prizes on innovation. In this in-depth study, Luciano Kay focuses on three recent cases of prize competitions in the aerospace industry: the Google Lunar X Prize, the Ansari X Prize and the Northrop Grumman Lunar Lander Challenge. Using a combination of real-time and historical analysis based on personal interviews, workplace visits and questionnaire and document data analysis, the author examines the particular dynamics of the prize phenomenon and offers a comprehensive discussion of the potential of prizes to induce innovation. This fascinating volume also sets out a systematic method to studying prize incentives, offering a concrete innovation model and case study design approach that will prove highly useful to further research efforts in the field. Scholars, policymakers and corporate officials interested in incentives for innovation and the practical implementation of prize competitions will find this an invaluable resource. Potential prize sponsors and entrepreneurs, professionals and other individuals or organizations interested in participating in such competitions will also find much of interest in this groundbreaking book.

The Incentives and Disincentives of Innovation Prizes

Author : Bharat Bhushan (S. M.)
Publisher :
ISBN 13 :
Total Pages : 57 pages
Book Rating : 4.:/5 (666 download)

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Book Synopsis The Incentives and Disincentives of Innovation Prizes by : Bharat Bhushan (S. M.)

Download or read book The Incentives and Disincentives of Innovation Prizes written by Bharat Bhushan (S. M.) and published by . This book was released on 2010 with total page 57 pages. Available in PDF, EPUB and Kindle. Book excerpt: Technological innovation is driven by incentives. However, our understanding of how incentives actually work "on the ground" to change the level of activity of innovators or to shape the direction of their innovation is relatively limited. This thesis contributes to this understanding by focusing on innovation prizes (as applied to the energy industry). It aims to examine how prizes provide a useful but also a limiting incentive for companies in a particular arena of R&D. Specifically, the thesis involves a survey of the teams that dropped out from a highly publicized prize competition to learn about their motivations and perspectives about the competition. How companies/teams understand and evaluate the technologies that they promote involves as much understanding of the technologies as of the economic models of incentives. This thesis uses a survey based methodology to explore the impact of a particular incentive structure - prizes - on a group of teams who initially participated in the prizes and then later decided to drop out. By selecting the drop out group we were able to explore the details of the prize as an innovation mechanism in more detail. The survey results reveal that the dropped out teams believed the prize to be an opportunity to raise money for their projects. Their inability to raise enough funds and eventual dropping out did not decrease their excitement about prizes as an ideal incentive to bring about radical change even though, the dropped out teams judged the specific prize competition as less than ideal. As a consequence, the thesis concludes that the prize incentive has a close relationship with and hence extends the financial infrastructure of a society.

Accelerating Innovation with Prize Rewards: History and Typology of Technology Prizes and a New Contest Design for Innovation in African Agriculture

Download Accelerating Innovation with Prize Rewards: History and Typology of Technology Prizes and a New Contest Design for Innovation in African Agriculture PDF Online Free

Author : William A. Masters and Benoit Delbecq
Publisher : Intl Food Policy Res Inst
ISBN 13 :
Total Pages : 44 pages
Book Rating : 4./5 ( download)

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Book Synopsis Accelerating Innovation with Prize Rewards: History and Typology of Technology Prizes and a New Contest Design for Innovation in African Agriculture by : William A. Masters and Benoit Delbecq

Download or read book Accelerating Innovation with Prize Rewards: History and Typology of Technology Prizes and a New Contest Design for Innovation in African Agriculture written by William A. Masters and Benoit Delbecq and published by Intl Food Policy Res Inst. This book was released on 2008 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Incentive Competitions as a Policy Tool for Technological Innovation

Author : Georgina Amy Campbell
Publisher :
ISBN 13 :
Total Pages : 156 pages
Book Rating : 4.:/5 (746 download)

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Book Synopsis Incentive Competitions as a Policy Tool for Technological Innovation by : Georgina Amy Campbell

Download or read book Incentive Competitions as a Policy Tool for Technological Innovation written by Georgina Amy Campbell and published by . This book was released on 2011 with total page 156 pages. Available in PDF, EPUB and Kindle. Book excerpt: Large incentive competitions are becoming increasingly popular amongst policymakers and philanthropists as a mission-orientated tool for inducing innovation, particularly in areas of national priority where market incentives and conventional tools such as patents and procurements tend not to be sufficient. Using inducement mechanisms (motivators) such as a large financial reward, demanding deliverables, and technical support, incentive competitions seek to motivate innovators to exert effort and develop creative solutions to pre-defined problems. According to the literature, these motivators can be powerful mechanisms for influencing effort and creativity but their effectiveness very much depends on the combination of motivators used and conditions under which they are executed. There is a serious lack of empirical evidence on the motivators and conditions of large incentive competitions and their effectiveness to influence behaviour and outcomes. Therefore, we cannot fully appreciate the role of large incentive competitions in the innovation policy tool kit. A small body of empirical data exists on the impact of motivators within small online prizes but these prizes are very different to large incentive competitions in terms of the intended motivators incorporated and the competition environment. Through qualitative and quantitative analysis of one large incentive competition- the Progressive Automotive XPRIZE (PIAXP), this thesis aims to explore the motivators incorporated into PIAXP and their ability to orient people towards a specified mission and induce innovative behaviour. In turn, this thesis aims to 1) better understand the role incentive prizes as an innovation tool and 2) identify the motivators and prize design that can be used in incentive competitions to promote desired outcomes. My research identifies two unique features of PIAXP, which can provide insight into large incentive competitions in general. 1) PIAXP effectively attracted and focused a diverse set of solvers on a specific problem, who otherwise would not or could not pursue the prize objective(s). For example, 35% of teams did not exist before. Of those teams that did exist, 30% were informal and 17% were non-vehicle- related, all turning to formal vehicle teams for the PIAXP; 2) PIAXP facilitated the development of participating teams and ideas, and actively induced innovative behaviour during the competition. These findings emphasize the important of motivators and prize design to attract and support the development of solvers and solutions. In terms of competition design, participants and organizations were influenced in different ways. Influential motivators included: recognition (validation, publicity, and personal pride), performance accelerators (business and personal), and intrinsic passion for the cause. Other elements of design that influenced entry levels and behaviour included: structure (length/ barriers to entry), categories (broad, specific or multiple), collaborative events, and support (for the organization and individual). Success within PIAXP was positively correlated with compensation and competition but negatively correlated with recognition. Effort was positively correlated with reputation but negatively correlated with fun.

Federally Funded Innovation Inducement Prizes

Author : Deborah D. Stine
Publisher : DIANE Publishing
ISBN 13 : 143791991X
Total Pages : 32 pages
Book Rating : 4.4/5 (379 download)

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Book Synopsis Federally Funded Innovation Inducement Prizes by : Deborah D. Stine

Download or read book Federally Funded Innovation Inducement Prizes written by Deborah D. Stine and published by DIANE Publishing. This book was released on 2009-12 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: Contents: (1) What are the Different Kinds of Prizes?; (2) What is the Status of Federally-Funded Innovation Inducement Prizes?: DoD Wearable Power Prize; DARPA Grand Challenges; DoE Grand Challenges; Progressive Auto. X PRIZE; Amer. Le Mans Series Green Challenge Race; NASA Centennial Challenges: Astronaut Glove Challenge; General Aviation Technology; Lunar Regolith Excavation Challenge; Northrop Grumman Lunar Lander Challenge; Power Beaming and Tether; Lunar Oxygen Production or MoonROx; NASA Assessment of Program; Future Competitions; Biomed. Advanced R&D Authority Project BioShield; (3) What Policy Options Might Members of Congress Consider?: Create New Prizes; Modify Current Prize Programs.

Innovation Inducement Prizes at the National Science Foundation

Author : National Research Council
Publisher : National Academies Press
ISBN 13 : 0309104653
Total Pages : 72 pages
Book Rating : 4.3/5 (91 download)

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Book Synopsis Innovation Inducement Prizes at the National Science Foundation by : National Research Council

Download or read book Innovation Inducement Prizes at the National Science Foundation written by National Research Council and published by National Academies Press. This book was released on 2007-04-21 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt: Following a congressional directive in its FY 2006 Appropriations Act, the National Science Foundation asked the STEP Board to "propose a plan for administering prizes to individuals or teams that achieve novel solutions to specified social or research needs or capitalize on recognized research opportunities." A committee under the STEP Board concluded that an ambitious program of innovation inducement prize contests would be a sound investment in strengthening the infrastructure for U.S. innovation and that NSF, although inexperienced, is well suited to designing an experimental program that could add substantially to understanding regarding the appropriate goals of such contests, the motivations of participants and sponsors, and the rules and conditions that contribute to successful contests. The committee recommends that NSF start off with a series of small-scale prizes ($200K - $2M) in diverse areas while beginning to plan for much more ambitious contests ($3M-$30M) that would address significant economic or social challenges and be conducted over several years. The report addresses many of the generic issues that arise in administering innovation prize contests (types of contests, eligibility to participate, disposition of intellectual property rights, and decisions regarding awards) and explores 7 research and technology fields that might lend themselves to prize contests.

Inventing Ideas

Author : B. Zorina Khan
Publisher : Oxford University Press
ISBN 13 : 019093610X
Total Pages : 481 pages
Book Rating : 4.1/5 (99 download)

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Book Synopsis Inventing Ideas by : B. Zorina Khan

Download or read book Inventing Ideas written by B. Zorina Khan and published by Oxford University Press. This book was released on 2020-05-22 with total page 481 pages. Available in PDF, EPUB and Kindle. Book excerpt: What determines why some countries succeed and others fall behind? Economists have long debated the sources of economic growth, resulting in conflicting and often inaccurate claims about the role of the state, knowledge, patented ideas, monopolies, grand innovation prizes, and the nature of disruptive technologies. B. Zorina Khan's Inventing Ideas overturns conventional thinking and meticulously demonstrates how and why the mechanism design of institutions propels advances in the knowledge economy and ultimately shapes the fate of nations. Drawing on the experiences of over 100,000 inventors and innovations from Britain, France, and the United States during the first and second industrial revolutions (1750-1930), Khan's comprehensive empirical analysis provides a definitive micro-foundation for endogenous macroeconomic growth models. This groundbreaking study uses comparative analysis across time and place to show how different institutions affect technological innovation and growth. Khan demonstrates how top-down innovation systems, in which elites, state administrators, or panels make key economic decisions about prizes, rewards and the allocation of resources, prove to be ineffective and unproductive. By contrast, open-access markets in patented ideas increase the scale and scope of creativity, foster diversity and inclusiveness, generate greater knowledge spillovers, and enhance social welfare in the wider population. When institutions are associated with rewards that are misaligned with economic value and productivity, the negative consequences can accumulate and reduce comparative advantage at the level of individuals and nations alike. So who will arise as the global leader of the twenty-first century? The answer depends on the extent to which we learn and implement the lessons from the history of innovation and enterprise.

Technological Innovation

Author : Donald E. Cunningham
Publisher :
ISBN 13 :
Total Pages : 522 pages
Book Rating : 4.:/5 (89 download)

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Book Synopsis Technological Innovation by : Donald E. Cunningham

Download or read book Technological Innovation written by Donald E. Cunningham and published by . This book was released on 1977 with total page 522 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Handbook of Innovation Policy Impact

Author : Jakob Edler
Publisher : Edward Elgar Publishing
ISBN 13 : 1784711853
Total Pages : 604 pages
Book Rating : 4.7/5 (847 download)

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Book Synopsis Handbook of Innovation Policy Impact by : Jakob Edler

Download or read book Handbook of Innovation Policy Impact written by Jakob Edler and published by Edward Elgar Publishing. This book was released on 2016-07-27 with total page 604 pages. Available in PDF, EPUB and Kindle. Book excerpt: Innovation underpins competitiveness, is crucial to addressing societal challenges, and its support has become a major public policy goal. But what really works in innovation policy, and why? This Handbook, compiled by leading experts in the field, is the first comprehensive guide to understanding the logic and effects of innovation polices. The Handbook develops a conceptualisation and typology of innovation policies, presents meta-evaluations for 16 key innovation policy instruments and analyses evidence on policy-mix. For each policy instrument, underlying rationales and examples are presented, along with a critical analysis of the available impact evidence. Providing access to primary sources of impact analysis, the book offers an insightful assessment of innovation policy practice and its evaluation.

Prestige and Profit

Author : B. Zorina Khan
Publisher :
ISBN 13 :
Total Pages : 42 pages
Book Rating : 4.:/5 (969 download)

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Book Synopsis Prestige and Profit by : B. Zorina Khan

Download or read book Prestige and Profit written by B. Zorina Khan and published by . This book was released on 2017 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: Debates have long centered around the relative merits of prizes and other incentives for technological innovation. Some economists have cited the experience of the prestigious Royal Society of Arts (RSA), which offered honorary and cash awards, as proof of the efficacy of innovation prizes. The Society initially was averse to patents and prohibited the award of prizes for patented inventions. This study examines data on several thousand of these inducement prizes, matched with patent records and biographical information about the applicants. The empirical analysis shows that inventors of items that were valuable in the marketplace typically chose to obtain patents and to bypass the prize system. Owing to such adverse selection, prizes were negatively related to subsequent areas of important technological discovery. The RSA ultimately became disillusioned with the prize system, which they recognized had done little to promote technological progress and industrialization. The Society acknowledged that its efforts had been “futile” because of its hostility to patents, and switched from offering inducement prizes towards lobbying for reforms to strengthen the patent system. The findings suggest some skepticism is warranted about claims regarding the role that elites and nonmarket-oriented institutions played in generating technological innovation and long-term economic development.

Designing incentives in innovations processes. Gamification as an approach for creating an incentive system for the early stage of the innovation process

Download Designing incentives in innovations processes. Gamification as an approach for creating an incentive system for the early stage of the innovation process PDF Online Free

Author : Lukas Weniger
Publisher : GRIN Verlag
ISBN 13 : 3346180921
Total Pages : 71 pages
Book Rating : 4.3/5 (461 download)

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Book Synopsis Designing incentives in innovations processes. Gamification as an approach for creating an incentive system for the early stage of the innovation process by : Lukas Weniger

Download or read book Designing incentives in innovations processes. Gamification as an approach for creating an incentive system for the early stage of the innovation process written by Lukas Weniger and published by GRIN Verlag. This book was released on 2020-06-12 with total page 71 pages. Available in PDF, EPUB and Kindle. Book excerpt: Master's Thesis from the year 2019 in the subject Business economics - Business Management, Corporate Governance, grade: 1,7, Berlin School of Economics and Law, language: English, abstract: Incentive systems can contribute to the best possible exploitation of the employee’s abilities. A new way of setting those incentives and motivating employees is gamification. Gamification is defined as the application of game mechanics to a non-game setting, such as the business environment. Companies have discovered game-like incentives for motivating their employees, and now, this paper tries to create a gamified incentive system for motivating employees in the early stage of the innovation process. Innovation creates value, strengthens the market position and creates competitive advantages. Therefore innovation is widely seen as a critical source for economic success for companies. However, at the same time, innovation is expensive. For example, in 2018 alone, Apple invested as much as 14,24 billion dollars on research and development. This represented around 46% of their total operating expenses and approximately 2,6% of their total revenues. These costs are making it vital for companies to ensure the efficient use of innovation resources. This efficiency is largely determined by the competence, creativity and motivation of the employees working in the area of in research and development (R&D). Thus, companies have to generate adequate motivation in employees to deliver their innovative ideas, obtain a patent and develop the patentable idea into profitable innovation. Human resource (HR) management practices are considered as an essential instrument to fulfil this task. However, standard pay-for-performance schemes, which only reward short-term financial success, are not suitable for fulfilling this task in the innovation process, because innovation processes are likely to fail as they contain a high degree of uncertainty. In standard schemes, this failure would result in penalties by a lower compensation or a possible termination of the contract. This punishment has the potential to harm the innovative behaviour of employees. A company that wants to encourage innovation must design incentive systems that free employees to take risks, experiments and discover what practices and technologies are the most effective. These unique characteristics of innovation processes are the reason why analysing incentive systems in the context of innovation processes is of particular interest. Especially since incentive systems are considered as essential for ensuring the efficiency of innovation processes, as employees adapt their behaviour to these systems.

The Effect of Inducement Prizes on Innovation

Author : Luciano Kay
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)

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Book Synopsis The Effect of Inducement Prizes on Innovation by : Luciano Kay

Download or read book The Effect of Inducement Prizes on Innovation written by Luciano Kay and published by . This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Inducement prizes are increasingly popular because of their potential to induce technological innovations and attain related goals. Academic research, however, has barely investigated these prizes. This paper investigates the motivation of prize entrants, the characteristics of their research and development (R&D) activities, and the overall effect of prizes on innovation using case study research and documentary data sources. The Ansari X Prize and the Northrop Grumman Lunar Lander Challenge, both considered successful technology competitions in the aerospace sector, are investigated. The findings show that, first, incentives created by competitions, particularly those that are nonmonetary, attract unconventional entrants. The market value of the prize technologies motivate entrants as well but do not attract traditional industry players. Second, limited technology development lead times and no up-front funding characterize prize R&D activities, yet their differences with traditional industry practices are caused by participant-level factors. Most importantly, the introduction of novel R&D approaches is associated with the participation of unconventional entrants. Third, these prizes induced innovations over and above what would have occurred anyway, with the caveat that they were linked to significant technology incentives and fundamentally, ongoing R&D processes. These findings put forward lessons that inform the design of more effective prize competitions.

Prizes to Spur Innovation and Technology Breakthroughs

Author : United States. Congress. House. Committee on Science, Space, and Technology (2011). Subcommittee on Research and Technology
Publisher :
ISBN 13 :
Total Pages : 64 pages
Book Rating : 4.:/5 (319 download)

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Book Synopsis Prizes to Spur Innovation and Technology Breakthroughs by : United States. Congress. House. Committee on Science, Space, and Technology (2011). Subcommittee on Research and Technology

Download or read book Prizes to Spur Innovation and Technology Breakthroughs written by United States. Congress. House. Committee on Science, Space, and Technology (2011). Subcommittee on Research and Technology and published by . This book was released on 2014 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt:

OECD Green Growth Studies Fostering Innovation for Green Growth

Author : OECD
Publisher : OECD Publishing
ISBN 13 : 9264119922
Total Pages : 130 pages
Book Rating : 4.2/5 (641 download)

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Book Synopsis OECD Green Growth Studies Fostering Innovation for Green Growth by : OECD

Download or read book OECD Green Growth Studies Fostering Innovation for Green Growth written by OECD and published by OECD Publishing. This book was released on 2011-09-12 with total page 130 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explores policy actions for the deployment of new technologies and innovations as they emerge: investment in research and development, support for commercialisation, strengthening markets and fostering technology diffusion.

E-Planning and Collaboration: Concepts, Methodologies, Tools, and Applications

Author : Management Association, Information Resources
Publisher : IGI Global
ISBN 13 : 1522556478
Total Pages : 1775 pages
Book Rating : 4.5/5 (225 download)

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Book Synopsis E-Planning and Collaboration: Concepts, Methodologies, Tools, and Applications by : Management Association, Information Resources

Download or read book E-Planning and Collaboration: Concepts, Methodologies, Tools, and Applications written by Management Association, Information Resources and published by IGI Global. This book was released on 2018-06-04 with total page 1775 pages. Available in PDF, EPUB and Kindle. Book excerpt: As population growth accelerates, researchers and professionals face challenges as they attempt to plan for the future. E-planning is a significant component in addressing the key concerns as the world population moves towards urban environments. E-Planning and Collaboration: Concepts, Methodologies, Tools, and Applications contains a compendium of the latest academic material on the emerging interdisciplinary areas of e-planning and collaboration. Including innovative studies on data management, urban development, and crowdsourcing, this multi-volume book is an ideal source for planners, policymakers, researchers, and graduate students interested in how recent technological advancements are enhancing the traditional practices in e-planning.

Smart Cities and Smart Spaces: Concepts, Methodologies, Tools, and Applications

Author : Management Association, Information Resources
Publisher : IGI Global
ISBN 13 : 1522570314
Total Pages : 1742 pages
Book Rating : 4.5/5 (225 download)

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Book Synopsis Smart Cities and Smart Spaces: Concepts, Methodologies, Tools, and Applications by : Management Association, Information Resources

Download or read book Smart Cities and Smart Spaces: Concepts, Methodologies, Tools, and Applications written by Management Association, Information Resources and published by IGI Global. This book was released on 2018-09-07 with total page 1742 pages. Available in PDF, EPUB and Kindle. Book excerpt: As populations have continued to grow and expand, many people have made their homes in cities around the globe. With this increase in city living, it is becoming vital to create intelligent urban environments that efficiently support this growth and simultaneously provide friendly and progressive environments to both businesses and citizens alike. Smart Cities and Smart Spaces: Concepts, Methodologies, Tools, and Applications is an innovative reference source that discusses social, economic, and environmental issues surrounding the evolution of smart cities. Highlighting a range of topics such as smart destinations, urban planning, and intelligent communities, this multi-volume book is designed for engineers, architects, facility managers, policymakers, academicians, and researchers interested in expanding their knowledge on the emerging trends and topics involving smart cities.

Socio-Technical Innovation Bundles for Agri-Food Systems Transformation

Author : Christopher B. Barrett
Publisher : Springer Nature
ISBN 13 : 3030888029
Total Pages : 226 pages
Book Rating : 4.0/5 (38 download)

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Book Synopsis Socio-Technical Innovation Bundles for Agri-Food Systems Transformation by : Christopher B. Barrett

Download or read book Socio-Technical Innovation Bundles for Agri-Food Systems Transformation written by Christopher B. Barrett and published by Springer Nature. This book was released on 2022-04-21 with total page 226 pages. Available in PDF, EPUB and Kindle. Book excerpt: This open access book is the result of an expert panel convened by the Cornell Atkinson Center for Sustainability and Nature Sustainability. The panel tackled the seventeen UN Sustainable Development Goals (SDGs) for 2030 head-on, with respect to the global systems that produce and distribute food. The panel’s rigorous synthesis and analysis of existing research leads compellingly to multiple actionable recommendations that, if adopted, would simultaneously lead to healthy and nutritious diets, equitable and inclusive value chains, resilience to shocks and stressors, and climate and environmental sustainability.