OPEN INNOVATION CONTESTS IN ONLINE MARKETS: IDEA GENERATION AND IDEA EVALUATION WITH COLLECTIVE INTELLIGENCE

To overcome constrained resources, firms can actively seek innovative opportunities from the external world. This innovation approach, called open innovation (Chesbrough 2003; Hippel 2005; Terwiesch and Ulrich 2009; Terwiesch and Xu 2008), is receiving more and more attention. Facilitated by the global Internet and emerging forms of information technology, it has become very easy for companies to generate large numbers of innovative solutions through the use of online open innovation contests or crowdsourcing contests (Archak...
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