Semi-Public Contests

Research output: Working paperDiscussion paperOther research output

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Abstract

The process of innovation is driven by two main factors: new inventions and institutions supporting the transformation of inventions into marketable innovations. This paper proposes a new institution, called a semi- public contest, that has been neglected by the economic literature but exists frequently in practice. I show how semi-public contests can mitigate a dilemma that arises at a very early stage of innovative activity and specify the general requirements for situations in which a semi-public contest can increase welfare. This paper's results suggest that governments promote knowledge about the semi-public contest mechanism but refrain from direct public funding of contests.
Original languageEnglish
Place of PublicationTilburg
PublisherMicroeconomics
Number of pages42
Volume2009-33
Publication statusPublished - 2009

Publication series

NameCentER Discussion Paper
Volume2009-33

Fingerprint

Contests
Invention
Innovation
Innovative activity
Economics
Public funding
Government
Factors

Keywords

  • Innovation
  • Contests
  • Entrepreneurs
  • Institutional Design
  • Business Plan Competitions
  • Auctions

Cite this

Prüfer, J. (2009). Semi-Public Contests. (CentER Discussion Paper; Vol. 2009-33). Tilburg: Microeconomics.
Prüfer, J. / Semi-Public Contests. Tilburg : Microeconomics, 2009. (CentER Discussion Paper).
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Prüfer, J 2009 'Semi-Public Contests' CentER Discussion Paper, vol. 2009-33, Microeconomics, Tilburg.

Semi-Public Contests. / Prüfer, J.

Tilburg : Microeconomics, 2009. (CentER Discussion Paper; Vol. 2009-33).

Research output: Working paperDiscussion paperOther research output

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KW - Business Plan Competitions

KW - Auctions

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Prüfer J. Semi-Public Contests. Tilburg: Microeconomics. 2009. (CentER Discussion Paper).