Thank you so much for sharing additional literature! I really appreciate the effort.
As far as I can tell from a skimming these articles, they seem to be mostly theoretical or modeling studies.
In our report, we mainly focused on the empirical (and especially the (quasi-)experimental) literature in our report because (1) we wanted to understand how well prizes work in practice, and (2) our impression was that the theoretical literature on prizes seemed somewhat too removed from the way that typical large prizes are implemented in real life.
It could also be that the way innovation contests are implemented in real life is severely suboptimal :)
After all, the FCC only started using spectrum auctions in the mid 90s, while academic work on auction theory/mech design is significantly older. We have also only recently started using insights from game theory in school choice, even though Gale and Shapley published their paper on the deferred acceptance algorithm in 1962.
Yes, you’re right, that could definitely be the case. We have not looked into that.
Good examples with auction theory and the deferred acceptance algorithm! I’ve been frustrated for a while that my municipality doesn’t want to try out the deferred acceptance mechanism for school/kindergarten choice :)
Thank you so much for sharing additional literature! I really appreciate the effort.
As far as I can tell from a skimming these articles, they seem to be mostly theoretical or modeling studies.
In our report, we mainly focused on the empirical (and especially the (quasi-)experimental) literature in our report because (1) we wanted to understand how well prizes work in practice, and (2) our impression was that the theoretical literature on prizes seemed somewhat too removed from the way that typical large prizes are implemented in real life.
It could also be that the way innovation contests are implemented in real life is severely suboptimal :)
After all, the FCC only started using spectrum auctions in the mid 90s, while academic work on auction theory/mech design is significantly older. We have also only recently started using insights from game theory in school choice, even though Gale and Shapley published their paper on the deferred acceptance algorithm in 1962.
Yes, you’re right, that could definitely be the case. We have not looked into that.
Good examples with auction theory and the deferred acceptance algorithm! I’ve been frustrated for a while that my municipality doesn’t want to try out the deferred acceptance mechanism for school/kindergarten choice :)