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 :)
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 :)