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The Age of the Consumer-Innovator
Source: sloanreview.mit.edu
Article summary:
1. Consumers are a major source of product innovations, and this has led to the framing of a new innovation paradigm in which consumers play a central and very active role.
2. National surveys of consumer innovation have been conducted in the U.S., the United Kingdom and Japan, showing that millions of citizens innovate to create and modify consumer products to better fit their needs.
3. The surveys also show that citizens who innovate spend similar amounts of money and time on this activity, with total estimated annual expenditures by consumer-innovators being in the billions of dollars in each country.
Article analysis:
The article is generally reliable and trustworthy, as it provides evidence from three national surveys conducted with representative samples of citizens aged 18 and older in the U.S., the United Kingdom and Japan to support its claims about consumer innovation. It also provides detailed information about the extent and scope of consumer innovation, as well as demographic data about who is most likely to be a consumer-innovator.
However, there are some potential biases present in the article that should be noted. For example, it does not explore any counterarguments or present both sides equally; instead, it focuses solely on how consumers are important innovators who often develop products on their own. Additionally, it does not mention any possible risks associated with consumer innovation or provide any evidence for its claims about spending levels among consumer-innovators in different countries.
In conclusion, while this article is generally reliable and trustworthy due to its use of survey data from three countries to support its claims about consumer innovation, there are some potential biases present that should be noted when considering its trustworthiness.