Prediction Markets for Crowdsourcing

Horn CF, Bogers M, Brem A (2018)

Publication Type: Book chapter / Article in edited volumes

Publication year: 2018

Publisher: Oxford University Press

Edited Volumes: Creating and Capturing Value through Crowdsourcing

City/Town: Oxford

Pages Range: 292-309

ISBN: 978-019881622-5

DOI: 10.1093/oso/9780198816225.003.0012


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.

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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.


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.

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