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A socio-institutional perspective on the reluctance among the elderly concerning the commercialization of 3D surgical video technology in Sweden

Patel, Pankaj C. ; Stenmark, Maj LU ; Parida, Vinit and Tran, Phan Kiet LU (2023) In Journal of Innovation and Knowledge 8(2).
Abstract

The pursuit of commercialization is at the core of economic activity, and limited commercialization success is generally ascribed to the lower scalability or potential of the venture. Drawing on the anti-profit-taking socio-institutional perspective and innovation resistance theory, commercialization of a value-creating technology could be resisted from the demand side. We use a 3D surgical video technology developed at a Swedish hospital along with Potentially All Pairwise RanKings of all possible alternatives (PAPRIKA) based on conjoint analysis completed by 1437 elderly individuals. We find that, despite the value benefits for the surgeon and the overall social benefits of the technology, the most preferred part-worth utility (i.e.,... (More)

The pursuit of commercialization is at the core of economic activity, and limited commercialization success is generally ascribed to the lower scalability or potential of the venture. Drawing on the anti-profit-taking socio-institutional perspective and innovation resistance theory, commercialization of a value-creating technology could be resisted from the demand side. We use a 3D surgical video technology developed at a Swedish hospital along with Potentially All Pairwise RanKings of all possible alternatives (PAPRIKA) based on conjoint analysis completed by 1437 elderly individuals. We find that, despite the value benefits for the surgeon and the overall social benefits of the technology, the most preferred part-worth utility (i.e., weight) of relative importance is a preference for not commercializing the technology for profit. These findings carry implications for entrepreneurship and institutional theory related to medical innovations in countries with universal healthcare. JEL Classification Code: I19, O30, O33.

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author
; ; and
organization
publishing date
type
Contribution to journal
publication status
published
subject
keywords
Commercialization, Non-profit institutions, Universal healthcare
in
Journal of Innovation and Knowledge
volume
8
issue
2
article number
100361
publisher
Elsevier
external identifiers
  • scopus:85150859081
ISSN
2530-7614
DOI
10.1016/j.jik.2023.100361
language
English
LU publication?
yes
id
784ac1b9-ea8c-4232-827c-cc5301a432cc
date added to LUP
2023-05-22 14:05:17
date last changed
2023-10-11 09:18:53
@article{784ac1b9-ea8c-4232-827c-cc5301a432cc,
  abstract     = {{<p>The pursuit of commercialization is at the core of economic activity, and limited commercialization success is generally ascribed to the lower scalability or potential of the venture. Drawing on the anti-profit-taking socio-institutional perspective and innovation resistance theory, commercialization of a value-creating technology could be resisted from the demand side. We use a 3D surgical video technology developed at a Swedish hospital along with Potentially All Pairwise RanKings of all possible alternatives (PAPRIKA) based on conjoint analysis completed by 1437 elderly individuals. We find that, despite the value benefits for the surgeon and the overall social benefits of the technology, the most preferred part-worth utility (i.e., weight) of relative importance is a preference for not commercializing the technology for profit. These findings carry implications for entrepreneurship and institutional theory related to medical innovations in countries with universal healthcare. JEL Classification Code: I19, O30, O33.</p>}},
  author       = {{Patel, Pankaj C. and Stenmark, Maj and Parida, Vinit and Tran, Phan Kiet}},
  issn         = {{2530-7614}},
  keywords     = {{Commercialization; Non-profit institutions; Universal healthcare}},
  language     = {{eng}},
  number       = {{2}},
  publisher    = {{Elsevier}},
  series       = {{Journal of Innovation and Knowledge}},
  title        = {{A socio-institutional perspective on the reluctance among the elderly concerning the commercialization of 3D surgical video technology in Sweden}},
  url          = {{http://dx.doi.org/10.1016/j.jik.2023.100361}},
  doi          = {{10.1016/j.jik.2023.100361}},
  volume       = {{8}},
  year         = {{2023}},
}