innovation contests open innovation and multiagent problem solving

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Innovation Contests, Open Innovation, and Multiagent Problem Solving

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Innovation contests: attracting new solvers and new high‐quality solutions

• August 2022
• R& D Management 53(1)

• Beijing University of Technology

• University of Groningen

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Incentives in Contests with Heterogeneous Solvers

Management Science (2016)

18 Pages Posted: 9 Mar 2015 Last revised: 1 Jun 2018

Ersin Körpeoğlu

UCL School of Management, University College London

Soo-Haeng Cho

Carnegie Mellon University

Date Written: December 23, 2016

In a contest in which solvers with heterogeneous expertise exert effort to develop solutions, a recent paper (Terwiesch, C., Y. Xu. 2008. Innovation contests, open innovation and multiagent problem solving. Management Science. 54(9) 1529--1543) argues that as more solvers enter the contest, every solver will reduce effort due to a lower probability of winning the contest. This paper corrects mistakes in this theory, and shows that there exist high-expertise solvers who may raise their effort in response to increased competition. This is because more entrants raise the expected best performance among other solvers, creating positive incentives for solvers to exert higher effort to win the contest. Due to this positive effect, we find that a free-entry open contest is more likely to be optimal to a contest organizer than what Terwiesch and Xu (2008) and other prior literature asserted.

Keywords: Contract; Crowdsourcing; Incentive; Tournament

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UCL School of Management, University College London ( email )

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Soo-Haeng Cho (Contact Author)

Carnegie mellon university ( email ).

Pittsburgh, PA 15213-3890 United States

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Innovation Contests, Open Innovation, and Multiagent Problem Solving

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(The Wharton School, University of Pennsylvania, Philadelphia, Pennsylvania 19104)

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• Fayard A (2024) Making Time for Social Innovation Organization Science 10.1287/orsc.2020.0832 35 :3 (1131-1156) Online publication date: 1-May-2024 https://dl.acm.org/doi/10.1287/orsc.2020.0832
• Khorasani S Körpeoğlu E Krishnan V (2024) Dynamic Development Contests Operations Research 10.1287/opre.2021.0420 72 :1 (43-59) Online publication date: 1-Jan-2024 https://dl.acm.org/doi/10.1287/opre.2021.0420
• Körpeoğlu E Korpeoglu C Hafalır İ (2022) Parallel Innovation Contests Operations Research 10.1287/opre.2021.2250 70 :3 (1506-1530) Online publication date: 1-May-2022 https://dl.acm.org/doi/10.1287/opre.2021.2250
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• Chen Z Mihm J Schlapp J (2022) Sourcing Innovation Manufacturing & Service Operations Management 10.1287/msom.2021.0983 24 :2 (1056-1073) Online publication date: 1-Mar-2022 https://dl.acm.org/doi/10.1287/msom.2021.0983
• Gao P Fan X Huang Y Chen Y (2022) Resource Allocation Among Competing Innovators Management Science 10.1287/mnsc.2021.4167 68 :8 (6059-6074) Online publication date: 1-Aug-2022 https://dl.acm.org/doi/10.1287/mnsc.2021.4167
• Tian X Bi G (2022) Multiplicative output form and its applications to problems in the homogenous innovation contest model OR Spectrum 10.1007/s00291-022-00667-y 44 :3 (709-732) Online publication date: 1-Sep-2022 https://dl.acm.org/doi/10.1007/s00291-022-00667-y
• Korpeoglu C Körpeoğlu E Tunç S (2021) Optimal Duration of Innovation Contests Manufacturing & Service Operations Management 10.1287/msom.2020.0935 23 :3 (657-675) Online publication date: 1-May-2021 https://dl.acm.org/doi/10.1287/msom.2020.0935
• Menon N Mishra A Ye S (2020) Beyond Related Experience Manufacturing & Service Operations Management 10.1287/msom.2019.0794 22 :5 (1045-1065) Online publication date: 1-Sep-2020 https://dl.acm.org/doi/10.1287/msom.2019.0794
• Mihm J Schlapp J (2019) Sourcing Innovation Management Science 10.1287/mnsc.2017.2955 65 :2 (559-576) Online publication date: 1-Feb-2019 https://dl.acm.org/doi/10.1287/mnsc.2017.2955

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• DOI: 10.2139/ssrn.3607769
• Corpus ID: 229067444

Team Collaboration in Innovation Contests

• Sıdıka Tunç Candoğan , C. G. Korpeoglu , Christopher S. Tang
• Published 22 May 2020
• Business, Engineering

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