This paper studies the relationship between optimal prizes and scarcity of ideas in innovation contests. We consider a … model where both ideas and effort are integral parts of the innovation process. Contest participants are privately informed …

rates and radicalness. This research introduces and develops the new staged competition innovation theory which builds on …Innovation is critical to technological progress and has many theories to explain its processes. Organised competition … has been shown empirically to provide an alternative pathway for innovation within an industry, increasing innovation …

Though we live in an era of rapid innovation, the United States has introduced comparatively few commercial innovations … within the past decade. Innovation shortfall contributes to weaker trade performance, decreased productivity growth, lower … wages and many other economic woes. This study provides insightful recommendations for developing enhanced innovation …