This paper aims to make two conceptual contributions to the growing research strand on policy feedbacks and socio-technical systems, which highlights that policies can generate effects in socio-technical systems that subsequently shape policymaking and strengthen policy trajectories. While policy feedbacks are relevant for understanding accelerated low-carbon transitions, the first contribution is to suggest that a fuller understanding should also include feedbacks within socio-technical systems. We therefore propose an integrated conceptual framework that opens up the black box of socio-technical systems and complements policy feedbacks with a more differentiated conceptualisation of socio-technical feedbacks between firms, users, wider publics, and technology. These socio-technical feedbacks can generate cost reductions, performance improvements, increasing confidence and investments, favourable public debates, and enhanced user adoption. We suggest and show that positive policy feedbacks as well as positive socio-technical feedbacks are needed to accelerate low-carbon transitions. The second contribution is to elaborate the moderating role of technological characteristics such as design complexity and customisation needs in positively or negatively shaping feedback loops. We apply our conceptual framework to case studies of energy efficiency lighting and smart meters in the UK, showing empirically how positive policy feedbacks and socio-technical feedbacks in the former accelerated the LED transition and led to stronger policies over time, whereas negative feedbacks in the latter case resulted in slower than anticipated diffusion and delayed deployment targets.

This article attempts to set out systematically Richard Nelson's contributions to the economics of innovation and to the emerging field of innovation studies. While focusing mainly on his fundamental research contributions, it also examines his impact on policy as well as his work supervising students and mentoring young researchers. In addition, it highlights his role at the centre of an expanding international network of scholars working to build the field of innovation studies over the last 60 years, and helping to imbue it with a set of values emphasizing openness, collaboration and intellectual generosity.