Preference markets for innovation ranking and selection

Li Chen, Paulo Goes, Wynd Harris, James Marsden, Zhongju Zhang

Research output: Contribution to journalArticle

4 Citations (Scopus)

Abstract

Companies face constant challenges to appropriately rank and select innovative technologies for potential strategic investments, and they have used many methodologies to help them with this task; however, these existing processes have several limitations. This paper showcases how information preference markets can be structured and implemented to rank and select these technologies. We demonstrate the market process for a leading company in the Fortune 100 companies list. The results are encouraging and have persuaded the company to make a significant financial commitment to expand its use of preference markets. The work we present here offers readers a step-by-step illustration of how to develop and use preference markets in industry settings.

Original languageEnglish (US)
Pages (from-to)144-153
Number of pages10
JournalInterfaces
Volume40
Issue number2
DOIs
StatePublished - Mar 2010
Externally publishedYes

Fingerprint

Innovation
Industry
Ranking and selection
Market process
Innovative technologies
Strategic investment
Methodology

Keywords

  • Information market
  • Prediction market
  • Preference aggregation
  • Preference ranking
  • Technology ranking
  • Technology selection

ASJC Scopus subject areas

  • Management of Technology and Innovation
  • Strategy and Management
  • Management Science and Operations Research

Cite this

Preference markets for innovation ranking and selection. / Chen, Li; Goes, Paulo; Harris, Wynd; Marsden, James; Zhang, Zhongju.

In: Interfaces, Vol. 40, No. 2, 03.2010, p. 144-153.

Research output: Contribution to journalArticle

Chen, L, Goes, P, Harris, W, Marsden, J & Zhang, Z 2010, 'Preference markets for innovation ranking and selection', Interfaces, vol. 40, no. 2, pp. 144-153. https://doi.org/10.1287/inte.1090.0478
Chen, Li ; Goes, Paulo ; Harris, Wynd ; Marsden, James ; Zhang, Zhongju. / Preference markets for innovation ranking and selection. In: Interfaces. 2010 ; Vol. 40, No. 2. pp. 144-153.
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