Is behavioral economics important to innovation?

As a study so far popularized by books like Steven D. Levitt and Stephen J. Dubner’s bestseller, Freakonomics, could closer attention to behavioral economics be beneficial when attempting to build an innovation ecosystem? The key element to the study is examining why people act in the way they do.  An action taken by a person can be explained as a response to a motivation or incentive. The limits of these are not financial, but include the likes of social, health and moral incentives as well, or even a combination of them, either positive or negative. Read it here.