Prediction markets for crowdsourcing

Christian Horn; Marcel Bogers; Alexander Brem

doi:10.1093/oso/9780198816225.003.0012

Prediction markets for crowdsourcing

Christian Horn, Marcel Bogers, Alexander Brem

Sektion for Produktion, Markeder og Politik

4 Citationer (Scopus)

Abstract

Crowdsourcing is an increasingly important phenomenon that is fundamentally changing how companies create and capture value. There are still important questions with respect to how crowdsourcing works and can be applied in practice, especially in business practice. In this chapter, we focus on prediction markets as a mechanism and tool to tap into a crowd in the early stages of an innovation process. In line with the growing interest in open innovation, we also investigate the difference between using internal or external sources in the context of prediction markets. We apply one example of a prediction market, a virtual stock market, to open innovation through an online platform, and show that using mechanisms of internal crowdsourcing with prediction markets can outperform the use of external crowds under certain conditions.

Originalsprog	Engelsk
Titel	Creating and Capturing Value through Crowdsourcing
Redaktører	Christopher L. Tucci, Allan Afuah, Gianluigi Viscusi
Antal sider	18
Forlag	Oxford University Press
Publikationsdato	2018
Sider	292-309
Kapitel	12
ISBN (Elektronisk)	9780198816225
DOI	https://doi.org/10.1093/oso/9780198816225.003.0012
Status	Udgivet - 2018

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10.1093/oso/9780198816225.003.0012

Prediction Markets for CrowdsourcingForlagets udgivne version, 269 KB

Citationsformater

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Prediction markets for crowdsourcing

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