{
 "@context": "https://schema.org",
 "@type": "DefinedTerm",
 "@id": "https://wulfkaal.github.io/entities/product-innovation",
 "identifier": "kaal:entity:product-innovation",
 "name": "Product innovation",
 "termCode": "product-innovation",
 "inDefinedTermSet": {
  "@id": "https://wulfkaal.github.io/entities/index.json"
 },
 "author": {
  "@type": "Person",
  "name": "Wulf A. Kaal",
  "identifier": "https://orcid.org/0000-0003-0757-275X"
 },
 "dateModified": "2026-07-29",
 "canonicalForm": "https://wulfkaal.github.io/entities/product-innovation.md",
 "sha256": "17dd7c62963fddedf5ebcff152c5317348971d1b808720170efe4a5c8e5fc765",
 "additionalProperty": [
  {
   "@type": "PropertyValue",
   "name": "status",
   "value": "derived"
  },
  {
   "@type": "PropertyValue",
   "name": "claim_count",
   "value": 2
  },
  {
   "@type": "PropertyValue",
   "name": "work_count",
   "value": 2
  },
  {
   "@type": "PropertyValue",
   "name": "year_span",
   "value": [
    "2016",
    "2016"
   ]
  },
  {
   "@type": "PropertyValue",
   "name": "non_current_claims",
   "value": 0
  }
 ],
 "subjectOf": [
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/2811729-020",
   "identifier": "kaal:claim:2811729-020",
   "text": "In the unprecedented low interest rate environment prevailing since 2005, investment managers responded to retail investors reaching for yield by offering unconstrained mutual funds, a product that authorizes absolute return strategies in the fixed income world.",
   "abstract": "First, in the unprecedented low interest rate environment that has prevailed since 2005, investment managers have responded to retail investors \"reaching for yield\" by offering a product (UMFs) that authorizes absolute return strategies in the fixed income world.",
   "citation": "Wulf A. Kaal, Unconstrained Mutual Funds and Retail Investor Protection (2016). SSRN: https://ssrn.com/abstract=2811729",
   "datePublished": "2016",
   "claim_type": "mechanism",
   "confidence": "argued",
   "is_failure_mode": false,
   "scope_conditions": [
    "United States fixed income markets since 2005"
   ],
   "source_pdf_sha256": "0877b0a076f2614559cb0b1a736f73401cecbee7cfe014da6e36709208e92a74",
   "status": "current"
  },
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/2831040-009",
   "identifier": "kaal:claim:2831040-009",
   "text": "Formal rulemaking in the existing regulatory infrastructure is almost always too time consuming, because product innovation moves fast enough that regulations covering an innovative product are obsolete before they are finalized.",
   "abstract": "Formal rulemaking in the existing regulatory infrastructure is almost always too time-consuming (Sunstein 1999, McGarity 1992) because the speed of product innovation often makes regulations pertaining to an innovative product obsolete before such regulations are finalized",
   "citation": "Wulf A. Kaal, Dynamic Regulation for Innovation (2016). SSRN: https://ssrn.com/abstract=2831040",
   "datePublished": "2016",
   "claim_type": "failure",
   "confidence": "argued",
   "is_failure_mode": true,
   "scope_conditions": [
    "formal rulemaking directed at fast moving innovative products"
   ],
   "source_pdf_sha256": "de5156f14f44a5753cab55b6c4b03049eda58a143b99e08ef427aee1d261e1bf",
   "status": "current"
  }
 ],
 "description": "2 claims in the published works of Wulf A. Kaal carry the concept tag 'product-innovation'. Derived node: a roster, not an adjudicated definition."
}