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 language | English (US) |
|---|---|
| Pages (from-to) | 144-153 |
| Number of pages | 10 |
| Journal | Interfaces |
| Volume | 40 |
| Issue number | 2 |
| DOIs | |
| State | Published - Mar 2010 |
| Externally published | Yes |
Keywords
- Information market
- Prediction market
- Preference aggregation
- Preference ranking
- Technology ranking
- Technology selection
ASJC Scopus subject areas
- Strategy and Management
- Management Science and Operations Research
- Management of Technology and Innovation