Innovation Articles

By Oguz A. Acar, Dirk Deichmann

Does Crowdsourcing Need a Cash Prize to Work?


If you are looking for a larger selection of ideas to choose from, put up a big prize. If you don’t mind a smaller selection of original ideas or don’t have the resources to vet a lot of ideas, offering no prize will work just as well. Low rewards don’t seem to serve any purpose, offering the worst of both worlds: discouraging submissions and lowering the level of originality of those submitted.