This paper studies innovation tournaments in which an organizer seeks solutions to an innovation-related problem from a number of agents. Agents exert effort to improve their solutions but face uncertainty about their solution performance. The organizer is interested in obtaining multiple...

Crowdfunding goes beyond raising funds. Entrepreneurs often use crowdfunding to solicit feedback from customers to improve their products, and may therefore prefer to launch crowdfunding campaigns with less developed products. Yet, customers may not be persuaded by a campaign if a product...