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How much is your thing worth?
thingiverse
This design depicts the money sign - a powerful emblem for the substantial worth of sharing your designs under open licenses. To determine the value of your design for the world, use the methods outlined in this paper. Instructions This is a symbol of financial value that represents the significant benefits of freely distributing your creative work under permissive licenses. Calculate the monetary impact of your artistry on a global scale with the techniques found in this scholarly document. Description: Pearce, J.M. (2015) Assessing the Economic Worth of Open Source Hardware Innovation. Modern Economy, 6, 1-11. (Free to Access) Abstract: As 3D printing and other digital manufacturing technologies mature, a novel paradigm is emerging for decentralized production in scientific tools and consumer goods. Designs published under free licenses are referred to as Free and Open Source Hardware (FOSH). The accessibility of these FOSH designs has considerable economic value for individuals with access to digital fabrication methods, especially scientists requiring custom-made low-volume products. However, using conventional funding models to support the development of FOSH is challenging due to the difficulty in quantifying its financial return. To overcome this challenge and capitalize on the present opportunities in affordable scientific equipment and consumer products, this study examines three approaches for measuring the economic value of FOSH: (1) download substitution valuation; (2) avoided reproduction valuation, and (3) market savings valuation. These methods also consider secondary benefits such as expanded markets, accelerated scientific innovation, improved education, and enhanced healthcare. The analysis reveals that these techniques are straightforward to implement using readily available data, with minimal assumptions. A case study of a syringe pump used in various medical applications is presented, demonstrating millions of dollars in economic value from the open-licensed release of this simple scientific device. This study concludes that funding FOSH development will provide a significant return on public investments, particularly in science, medicine, and education.
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