Information Disclosure in Innovation Contests
AbstractIn innovation contests, the progress of the competing firms in the innovation process is usually their private information. We analyze an innovation contest in which research firms have a stochastic technology to develop innovations at a fixed cost, but their progress is publicly announced. We make a comparison with the case of no information revelation: if the progress is disclosed, the expected profit of the firms is higher, but the expected profit of the sponsor is lower. Additionally, we show that firms may voluntarily reveal their information.
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Bibliographic InfoPaper provided by University of Bonn, Germany in its series Bonn Econ Discussion Papers with number bgse16_2010.
Date of creation: Sep 2010
Date of revision:
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contest; innovation; information revelation;
Find related papers by JEL classification:
- O32 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Management of Technological Innovation and R&D
- D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
- D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
This paper has been announced in the following NEP Reports:
- NEP-ALL-2010-10-23 (All new papers)
- NEP-CTA-2010-10-23 (Contract Theory & Applications)
- NEP-INO-2010-10-23 (Innovation)
- NEP-IPR-2010-10-23 (Intellectual Property Rights)
- NEP-MIC-2010-10-23 (Microeconomics)
- NEP-TID-2010-10-23 (Technology & Industrial Dynamics)
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