Using contests to generate innovation has and is widely used. Such contests often involve offering a prize that depends … inducing innovation. In a symmetric environment, we find that the reward should be set to c(x)/c′(x) where c is the cost of … producing an innovation of level x. In an asymmetric environment with two firms, we find that it is optimal to set different …

The literature on R&D contests implicitly assumes that contestants submit their innovation regardless of its value …

This paper considers the optimal design of dynamic research contests when the buyer can set time-dependent prizes. We … combine the best aspects of innovation races and research tournaments. …

Using contests to generate innovation has and is widely used. Such contests often involve offering a prize that depends … inducing innovation. In a symmetric environment, we find that the reward should be set to c(x)/c′(x) where c is the cost of … producing an innovation of level x. In an asymmetric environment with two firms, we find that it is optimal to set different …

Using contests to generate innovation has and is widely used. Such contests often involve offering a prize that depends … inducing innovation. In a symmetric environment, we find that the reward should be set to c(x)/c′(x) where c is the cost of … producing an innovation of level x. In an asymmetric environment with two firms, we find that it is optimal to set different …