Prediction Markets for Crowdsourcing

Article in Edited Volumes
(Book chapter)


Publication Details

Author(s): Horn CF, Bogers M, Brem A
Editor(s): Christopher L. Tucci, Allan Afuah, Gianluigi Viscusi
Title edited volumes: Creating and Capturing Value through Crowdsourcing
Publisher: Oxford University Press
Publishing place: Oxford
Publication year: 2018
Pages range: 292-309
ISBN: 978-019881622-5


Abstract

Crowdsourcing is an increasingly important phenomenon that is fundamentally changing how companies create and capture value. There are still important questions with respect to how crowdsourcing works and can be applied in practice, especially in business practice. In this chapter, we focus on prediction markets as a mechanism and tool to tap into a crowd in the early stages of an innovation process. In line with the growing interest in open innovation, we also investigate the difference between using internal or external sources in the context of prediction markets. We apply one example of a prediction market, a virtual stock market, to open innovation through an online platform, and show that using mechanisms of internal crowdsourcing with prediction markets can outperform the use of external crowds under certain conditions.


FAU Authors / FAU Editors

Brem, Alexander Prof. Dr.
Lehrstuhl für Technologiemanagement


External institutions with authors

Otto-Friedrich-Universität Bamberg
University of Copenhagen


Research Fields

User Innovation
Lehrstuhl für Technologiemanagement


How to cite

APA:
Horn, C.F., Bogers, M., & Brem, A. (2018). Prediction Markets for Crowdsourcing. In Christopher L. Tucci, Allan Afuah, Gianluigi Viscusi (Eds.), Creating and Capturing Value through Crowdsourcing. (pp. 292-309). Oxford: Oxford University Press.

MLA:
Horn, Christian Franz, Marcel Bogers, and Alexander Brem. "Prediction Markets for Crowdsourcing." Creating and Capturing Value through Crowdsourcing. Ed. Christopher L. Tucci, Allan Afuah, Gianluigi Viscusi, Oxford: Oxford University Press, 2018. 292-309.

BibTeX: 

Last updated on 2019-01-01 at 03:10