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This paper analyzes the design of innovation contests when the quality of an innovation depends on the research approach of the supplier, but the best approach is unknown. Diversity of approaches is desirable because it generates an option value. In our main model with two suppliers, the buyer...
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We analyze wartime prosthetic device patents to investigate how demand and procurement policy can shape medical … more cost-conscious procurement model during the Civil War. Third, we find that inventors emphasized dimensions of product … historical record, across wars. We conclude that procurement environments can significantly shape the scientific problems with …
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traditional procurement, these tasks are delegated to separate private contractors. The two provision modes differ in their …
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