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Innovation and Crowdsourcing Contests

Ales, L; Cho, S-H; Körpeoğlu, E; (2019) Innovation and Crowdsourcing Contests. In: Hu, M, (ed.) Sharing Economy: Making Supply Meet Demand. (pp. 379-406). Springer: Cham, Switzerland. Green open access

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Abstract

In an innovation contest, an organizer seeks solutions to an innovation-related problem from a group of independent agents. Agents, who can be heterogeneous in their ability levels, exert efforts to improve their solutions, and their solution qualities are uncertain due to the innovation and evaluation processes. In this chapter, we present a general model framework that captures main features of a contest, and encompasses several existing models in the literature. Using this framework, we analyze two important decisions of the organizer: a set of awards that will be distributed to agents and whether to restrict entry to a contest or to run an open contest. We provide a taxonomy of contest literature, and discuss past and current research on innovation contests as well as a set of exciting future research directions.

Type: Book chapter
Title: Innovation and Crowdsourcing Contests
ISBN-13: 978-3-030-01862-7
Open access status: An open access version is available from UCL Discovery
DOI: 10.1007/978-3-030-01863-4_16
Publisher version: http://doi.org/10.1007/978-3-030-01863-4_16
Language: English
Additional information: This version is the author accepted manuscript. For information on re-use, please refer to the publisher’s terms and conditions.
UCL classification: UCL
UCL > Provost and Vice Provost Offices > UCL BEAMS
UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of Engineering Science
UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of Engineering Science > UCL School of Management
URI: https://discovery.ucl.ac.uk/id/eprint/10083795
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