Innovation contests within firms offer the potential to tap latent employee expertise across the organization, and expand innovation beyond the core R&D teams. Still, firms undertaking an internal contest, unlike the more commonly studied external contests, incur significant opportunity costs...

Innovation contests have been studied primarily as mechanisms to obtain extreme valued solutions. In the current work, we propose that this conceptualization of innovation contests needs to be expanded to also consider the long-term benefits from the knowledge/capabilities generated by the...