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The objective of this paper is to propose a multidisciplinary approach for the analysis of demand and innovation. It combines insights from studies on technology diffusion, evolutionary economics and cognitive psychology to argue that consumption and demand are learning processes driven by trial-and-error, rather than by ex-ante maximisation. The paper presents a heuristic synthesis to incorporate learning processes in the determination of consumption preferences and capabilities. The case of banking service innovation in the UK is presented as an illustrative example of the outlined dynamics. [ABSTRACT FROM AUTHOR]

Since the 1980s higher education (HE) in the UK has been continually developing to meet the needs of a changing economy. An economy now based largely on knowledge and its transfer, rather than manual skills and labour, has led to an emphasis by the government on increasing the number of adults with high level skills to contribute to economic success. The widening participation agenda is an example of the government drive to increase the numbers and range of people attending university. It is within this context that the term innovation has grown in currency. A growing student population requires learning and teaching methods to be developed, adapted and changed to address the diversity of needs within it. Innovation in learning and teaching therefore may become vital to the success of an institution. But what encourages staff to innovate? The majority of this paper will discuss the context for the focus on innovation in HE in terms of its contributing factors, such as changing economic needs and the government agenda to widen participation. Brief discussion at the end will be given to one faculty's initiative to encourage staff to innovate within their own practice. This initiative presents the potential benefits of creating opportunities for staff to present, exchange and discuss new ideas as a stimulus to taking the first step in innovating. [ABSTRACT FROM AUTHOR]