Killer Technologies: the destructive creation in the technical change (1907.12406v1)

Abstract: Killer technology is a radical innovation, based on new products and/or processes, that with high technical and/or economic performance destroys the usage value of established techniques previously sold and used. Killer technology is a new concept in economics of innovation that may be useful for bringing a new perspective to explain and generalize the behavior and characteristics of innovations that generate a destructive creation for sustaining technical change. To explore the behavior of killer technologies, a simple model is proposed to analyze and predict how killer technologies destroy and substitute established technologies. Empirical evidence of this theoretical framework is based on historical data on the evolution of some example technologies. Theoretical framework and empirical evidence hint at general properties of the behavior of killer technologies to explain corporate, industrial, economic and social change and to support best practices for technology management of firms and innovation policy of nations. Overall, then, the proposed theoretical framework can lay a foundation for the development of more sophisticated concepts to explain the behavior of vital technologies that generate technological and industrial change in society.