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

This paper studies the optimal design of dynamic research contests. We introduce interim transfers, which are paid in …

This paper studies the optimal design of dynamic research contests. We introduce interim transfers, which are paid in …

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

We consider innovation contests for the procurement of an innovation under moral hazard and adverse selection … random quality. Innovation quality is not contractible. We compare two procurement mechanisms -- a fixed prize and a first …

We consider procurement of an innovation from heterogeneous sellers. Innovations are random but depend on unobservable … admission to an innovation contest. After the contest, an innovation is procured employing either a fixed prize or a first …

This paper analyzes the design of innovation contests when the quality of an innovation depends on the research … approach, but the best approach is unknown. Inducing a variety of research approaches generates an option value. We show that …