Resource title

Fixed-prize tournaments versus first-price auctions in innovation contests

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Resource description

This paper analyzes a procurement setting with two identical firms and stochastic innovations. In contrast to the previous literature, I show that a procurer who cannot charge entry fees may prefer a fixed-prize tournament to a first-price auction since holding an auction may leave higher rents to firms when the innovation technology is subject to large random factors.

Resource author

Anja Schöttner

Resource publisher

Resource publish date

Resource language

eng

Resource content type

text/html

Resource resource URL

http://hdl.handle.net/10419/25050

Resource license

Adapt according to the presented license agreement and reference the original author.