INDUCING VARIETY: A THEORY OF INNOVATION CONTESTS
This article analyzes the design of innovation contests when the quality of an innovation depends on the research approach, but the best approach is unknown. Inducing a variety of research approaches generates an option value. We show that suitable contests can induce such variety. The buyer‐optimal...
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| Volume: | 60 |
|---|---|
| Main Author: |
Letina, Igor
Schmutzler, Armin |
| Format: | Journal Article |
| Language: | English |
| Zielgruppe: |
Academic |
| Place of publication: |
HOBOKEN WILEY 01.11.2019 Wiley Subscription Services, Inc |
| published in: | International economic review (Philadelphia) Vol. 60; no. 4; pp. 1757 - 1780 |
| Data of publication: | November 2019 |
| ISSN: |
0020-6598 1468-2354 |
| EISSN: |
1468-2354 |
| Discipline: | Economics |
| Bibliography: |
We are grateful to the associate editor and three anonymous referees for helpful comments and to Raphael Anthamatten, José Apesteguia, Jean‐Michel Benkert, Dirk Bergemann, Alessandro Bonatti, Stefanie Bossard, Bernhard Ganglmair, Claudia Geiser, Ulrich Kamecke, Navin Kartik, Alessandro Lizzeri, Christian Michel, Joao Montez, Georg Nöldeke, Nick Netzer, Marco Ottaviani, Konrad Stahl, and David Wettstein and to various seminar audiences for helpful discussions. Shuo Liu provided excellent research assistance. Letina would like to thank Stanford University for its hospitality and the Swiss National Science Foundation for financial support (projects P1ZHP1_155283 and 100014_131854). |
| Subjects: | |
| Online Access: |
Fulltext |
| Database: | Social Sciences Citation Index Web of Knowledge Web of Science - Social Sciences Citation Index – 2019 Web of Science CrossRef Database information Databases - DBIS |