Design and Use of Preference Markets for Evaluation of Early Stage Technologies
In the work presented here, we develop and apply preference markets in evaluating early stage technology. Partnering with a Fortune 5 company, we developed and implemented two internal preference markets (field experiments). In both cases, nonmonetary (play money) incentives were utilized, but one m...
Gespeichert in:
| Veröffentlicht in: | Journal of management information systems 2009-12, Vol.26 (3), p.45-70 |
|---|---|
| Hauptverfasser: | , , , |
| Format: | Artikel |
| Sprache: | eng |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Tags: |
Tag hinzufügen
Keine Tags, Fügen Sie den ersten Tag hinzu!
|
| container_end_page | 70 |
|---|---|
| container_issue | 3 |
| container_start_page | 45 |
| container_title | Journal of management information systems |
| container_volume | 26 |
| creator | Chen, Li Goes, Paulo Marsden, James R. Zhang, Zhongju |
| description | In the work presented here, we develop and apply preference markets in evaluating early stage technology. Partnering with a Fortune 5 company, we developed and implemented two internal preference markets (field experiments). In both cases, nonmonetary (play money) incentives were utilized, but one market provided additional nonmonetary (play money) incentives. Working with the partner company, our investigation started with seven emerging technologies and expanded to a total of 17 emerging technologies. Our results suggest that even a simple form of additional nonmonetary play money incentive yielded greater price convergence, increased spread across final market prices, and greater consistency with a costly expert panel that was set up by the partner company. Based on the outcomes of our analyses, the partner company is investing in developing extended applications of preference markets as a potentially scalable approach for dealing with its ongoing and expanding strategic identification of promising emerging technologies. |
| doi_str_mv | 10.2753/MIS0742-1222260302 |
| format | Article |
| fullrecord | <record><control><sourceid>jstor_cross</sourceid><recordid>TN_cdi_crossref_primary_10_2753_MIS0742_1222260302</recordid><sourceformat>XML</sourceformat><sourcesystem>PC</sourcesystem><jstor_id>40398992</jstor_id><sourcerecordid>40398992</sourcerecordid><originalsourceid>FETCH-LOGICAL-c469t-5f8899ad0e635efa52908c670912cf93ea0988ebd4578887ea0c2e8701ead44c3</originalsourceid><addsrcrecordid>eNp9UNFKAzEQDKJgrf6AIOQHTnPJ5S558EFqq4WWCm3Bt7DmNvXq9SLJqfTvvdJS39yXZZmdYWYIuU7ZLS-kuJuO56zIeJLybnImGD8hvVTKItFcvZ6S3hE9Jxcxrhljqea6R2aPGKtVQ6Ep6TIi9Y6-BHQYsLFIpxA-sI3U-UCH31B_QVv5Zvc0hFBv6byFFdIF2vfG135VYbwkZw7qiFeH3SfL0XAxeE4ms6fx4GGS2CzXbSKdUlpDyTAXEh1IrpmyecF0yq3TAoFppfCtzGShlCq623JUBUsRyiyzok_4XtcGH2Pn2HyGagNha1JmdpWYQyXmr5KOdLMnrWPrw5GRMaE7Nzv8fo9XTZd4Az8-1KVpYVv74AI0topG_KP_C3AkcTc</addsrcrecordid><sourcetype>Aggregation Database</sourcetype><iscdi>true</iscdi><recordtype>article</recordtype></control><display><type>article</type><title>Design and Use of Preference Markets for Evaluation of Early Stage Technologies</title><source>Business Source Complete</source><source>Jstor Complete Legacy</source><creator>Chen, Li ; Goes, Paulo ; Marsden, James R. ; Zhang, Zhongju</creator><creatorcontrib>Chen, Li ; Goes, Paulo ; Marsden, James R. ; Zhang, Zhongju</creatorcontrib><description>In the work presented here, we develop and apply preference markets in evaluating early stage technology. Partnering with a Fortune 5 company, we developed and implemented two internal preference markets (field experiments). In both cases, nonmonetary (play money) incentives were utilized, but one market provided additional nonmonetary (play money) incentives. Working with the partner company, our investigation started with seven emerging technologies and expanded to a total of 17 emerging technologies. Our results suggest that even a simple form of additional nonmonetary play money incentive yielded greater price convergence, increased spread across final market prices, and greater consistency with a costly expert panel that was set up by the partner company. Based on the outcomes of our analyses, the partner company is investing in developing extended applications of preference markets as a potentially scalable approach for dealing with its ongoing and expanding strategic identification of promising emerging technologies.</description><identifier>ISSN: 0742-1222</identifier><identifier>EISSN: 1557-928X</identifier><identifier>DOI: 10.2753/MIS0742-1222260302</identifier><language>eng</language><publisher>Routledge</publisher><subject>Business structures ; Consumer goods industries ; convergence ; Emerging technology ; Financial incentives ; incentives ; information market ; Information technology ; market performance ; Market prices ; preference aggregation ; preference ranking market ; Security prices ; Stock prices ; Technological innovation ; technology evaluation ; Trade</subject><ispartof>Journal of management information systems, 2009-12, Vol.26 (3), p.45-70</ispartof><rights>Copyright Taylor & Francis Group, LLC 2009</rights><rights>Copyright 2010 M.E. Sharpe, Inc.</rights><lds50>peer_reviewed</lds50><woscitedreferencessubscribed>false</woscitedreferencessubscribed><citedby>FETCH-LOGICAL-c469t-5f8899ad0e635efa52908c670912cf93ea0988ebd4578887ea0c2e8701ead44c3</citedby><cites>FETCH-LOGICAL-c469t-5f8899ad0e635efa52908c670912cf93ea0988ebd4578887ea0c2e8701ead44c3</cites></display><links><openurl>$$Topenurl_article</openurl><openurlfulltext>$$Topenurlfull_article</openurlfulltext><thumbnail>$$Tsyndetics_thumb_exl</thumbnail><linktopdf>$$Uhttps://www.jstor.org/stable/pdf/40398992$$EPDF$$P50$$Gjstor$$H</linktopdf><linktohtml>$$Uhttps://www.jstor.org/stable/40398992$$EHTML$$P50$$Gjstor$$H</linktohtml><link.rule.ids>314,777,781,800,27905,27906,57998,58231</link.rule.ids></links><search><creatorcontrib>Chen, Li</creatorcontrib><creatorcontrib>Goes, Paulo</creatorcontrib><creatorcontrib>Marsden, James R.</creatorcontrib><creatorcontrib>Zhang, Zhongju</creatorcontrib><title>Design and Use of Preference Markets for Evaluation of Early Stage Technologies</title><title>Journal of management information systems</title><description>In the work presented here, we develop and apply preference markets in evaluating early stage technology. Partnering with a Fortune 5 company, we developed and implemented two internal preference markets (field experiments). In both cases, nonmonetary (play money) incentives were utilized, but one market provided additional nonmonetary (play money) incentives. Working with the partner company, our investigation started with seven emerging technologies and expanded to a total of 17 emerging technologies. Our results suggest that even a simple form of additional nonmonetary play money incentive yielded greater price convergence, increased spread across final market prices, and greater consistency with a costly expert panel that was set up by the partner company. Based on the outcomes of our analyses, the partner company is investing in developing extended applications of preference markets as a potentially scalable approach for dealing with its ongoing and expanding strategic identification of promising emerging technologies.</description><subject>Business structures</subject><subject>Consumer goods industries</subject><subject>convergence</subject><subject>Emerging technology</subject><subject>Financial incentives</subject><subject>incentives</subject><subject>information market</subject><subject>Information technology</subject><subject>market performance</subject><subject>Market prices</subject><subject>preference aggregation</subject><subject>preference ranking market</subject><subject>Security prices</subject><subject>Stock prices</subject><subject>Technological innovation</subject><subject>technology evaluation</subject><subject>Trade</subject><issn>0742-1222</issn><issn>1557-928X</issn><fulltext>true</fulltext><rsrctype>article</rsrctype><creationdate>2009</creationdate><recordtype>article</recordtype><recordid>eNp9UNFKAzEQDKJgrf6AIOQHTnPJ5S558EFqq4WWCm3Bt7DmNvXq9SLJqfTvvdJS39yXZZmdYWYIuU7ZLS-kuJuO56zIeJLybnImGD8hvVTKItFcvZ6S3hE9Jxcxrhljqea6R2aPGKtVQ6Ep6TIi9Y6-BHQYsLFIpxA-sI3U-UCH31B_QVv5Zvc0hFBv6byFFdIF2vfG135VYbwkZw7qiFeH3SfL0XAxeE4ms6fx4GGS2CzXbSKdUlpDyTAXEh1IrpmyecF0yq3TAoFppfCtzGShlCq623JUBUsRyiyzok_4XtcGH2Pn2HyGagNha1JmdpWYQyXmr5KOdLMnrWPrw5GRMaE7Nzv8fo9XTZd4Az8-1KVpYVv74AI0topG_KP_C3AkcTc</recordid><startdate>20091201</startdate><enddate>20091201</enddate><creator>Chen, Li</creator><creator>Goes, Paulo</creator><creator>Marsden, James R.</creator><creator>Zhang, Zhongju</creator><general>Routledge</general><general>M. E. Sharpe</general><scope>AAYXX</scope><scope>CITATION</scope></search><sort><creationdate>20091201</creationdate><title>Design and Use of Preference Markets for Evaluation of Early Stage Technologies</title><author>Chen, Li ; Goes, Paulo ; Marsden, James R. ; Zhang, Zhongju</author></sort><facets><frbrtype>5</frbrtype><frbrgroupid>cdi_FETCH-LOGICAL-c469t-5f8899ad0e635efa52908c670912cf93ea0988ebd4578887ea0c2e8701ead44c3</frbrgroupid><rsrctype>articles</rsrctype><prefilter>articles</prefilter><language>eng</language><creationdate>2009</creationdate><topic>Business structures</topic><topic>Consumer goods industries</topic><topic>convergence</topic><topic>Emerging technology</topic><topic>Financial incentives</topic><topic>incentives</topic><topic>information market</topic><topic>Information technology</topic><topic>market performance</topic><topic>Market prices</topic><topic>preference aggregation</topic><topic>preference ranking market</topic><topic>Security prices</topic><topic>Stock prices</topic><topic>Technological innovation</topic><topic>technology evaluation</topic><topic>Trade</topic><toplevel>peer_reviewed</toplevel><toplevel>online_resources</toplevel><creatorcontrib>Chen, Li</creatorcontrib><creatorcontrib>Goes, Paulo</creatorcontrib><creatorcontrib>Marsden, James R.</creatorcontrib><creatorcontrib>Zhang, Zhongju</creatorcontrib><collection>CrossRef</collection><jtitle>Journal of management information systems</jtitle></facets><delivery><delcategory>Remote Search Resource</delcategory><fulltext>fulltext</fulltext></delivery><addata><au>Chen, Li</au><au>Goes, Paulo</au><au>Marsden, James R.</au><au>Zhang, Zhongju</au><format>journal</format><genre>article</genre><ristype>JOUR</ristype><atitle>Design and Use of Preference Markets for Evaluation of Early Stage Technologies</atitle><jtitle>Journal of management information systems</jtitle><date>2009-12-01</date><risdate>2009</risdate><volume>26</volume><issue>3</issue><spage>45</spage><epage>70</epage><pages>45-70</pages><issn>0742-1222</issn><eissn>1557-928X</eissn><abstract>In the work presented here, we develop and apply preference markets in evaluating early stage technology. Partnering with a Fortune 5 company, we developed and implemented two internal preference markets (field experiments). In both cases, nonmonetary (play money) incentives were utilized, but one market provided additional nonmonetary (play money) incentives. Working with the partner company, our investigation started with seven emerging technologies and expanded to a total of 17 emerging technologies. Our results suggest that even a simple form of additional nonmonetary play money incentive yielded greater price convergence, increased spread across final market prices, and greater consistency with a costly expert panel that was set up by the partner company. Based on the outcomes of our analyses, the partner company is investing in developing extended applications of preference markets as a potentially scalable approach for dealing with its ongoing and expanding strategic identification of promising emerging technologies.</abstract><pub>Routledge</pub><doi>10.2753/MIS0742-1222260302</doi><tpages>26</tpages></addata></record> |
| fulltext | fulltext |
| identifier | ISSN: 0742-1222 |
| ispartof | Journal of management information systems, 2009-12, Vol.26 (3), p.45-70 |
| issn | 0742-1222 1557-928X |
| language | eng |
| recordid | cdi_crossref_primary_10_2753_MIS0742_1222260302 |
| source | Business Source Complete; Jstor Complete Legacy |
| subjects | Business structures Consumer goods industries convergence Emerging technology Financial incentives incentives information market Information technology market performance Market prices preference aggregation preference ranking market Security prices Stock prices Technological innovation technology evaluation Trade |
| title | Design and Use of Preference Markets for Evaluation of Early Stage Technologies |
| url | https://sfx.bib-bvb.de/sfx_tum?ctx_ver=Z39.88-2004&ctx_enc=info:ofi/enc:UTF-8&ctx_tim=2025-01-20T09%3A59%3A00IST&url_ver=Z39.88-2004&url_ctx_fmt=infofi/fmt:kev:mtx:ctx&rfr_id=info:sid/primo.exlibrisgroup.com:primo3-Article-jstor_cross&rft_val_fmt=info:ofi/fmt:kev:mtx:journal&rft.genre=article&rft.atitle=Design%20and%20Use%20of%20Preference%20Markets%20for%20Evaluation%20of%20Early%20Stage%20Technologies&rft.jtitle=Journal%20of%20management%20information%20systems&rft.au=Chen,%20Li&rft.date=2009-12-01&rft.volume=26&rft.issue=3&rft.spage=45&rft.epage=70&rft.pages=45-70&rft.issn=0742-1222&rft.eissn=1557-928X&rft_id=info:doi/10.2753/MIS0742-1222260302&rft_dat=%3Cjstor_cross%3E40398992%3C/jstor_cross%3E%3Curl%3E%3C/url%3E&disable_directlink=true&sfx.directlink=off&sfx.report_link=0&rft_id=info:oai/&rft_id=info:pmid/&rft_jstor_id=40398992&rfr_iscdi=true |