Institute of Electronic Commerce and Digital Markets
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Crowd Intelligence & Innovation

Crowd intelligence (also known as "Wisdom of Crowds") is used in various ways, e.g. for the prediction of future events, the measurement of group preferences, the distribution of knowledge, but also for the collection and evaluation of ideas for the development of new products. Here, virtual stock exchanges proved to be an effective tool to combine requirements of scalability, interactivity, collaboration, and response speed. Corresponding to their manifold areas of application, virtual stock exchanges are also called prediction markets, preference markets, knowledge stock exchanges or idea markets. Related applications of crowd intelligence include crowdsourcing and crowdfunding.

The goal of our quantitative and empirical research is to get a better understanding of the underlying incentive mechanisms and motivational factors. Furthermore, our research interest lies on the effect of socio-dynamic behavior on the quality of results.

Keywords

  • Knowledge Stock Exchanges
  • Virtual Stock Markets & Prediction Markets
  • Idea Markets
  • Crowdsourcing
  • New Product Development
  • Open Innovation
  • Electric Mobility

LMU Virtual Stock Market Platform

With the help of our self-developed software platform, we are also able to flexibly implement research projects in this area with company partners.

Members:

Partners:

  • The Martin Agency
  • Carl Zeiss
  • Hollywood Stock Exchange (HSX)
  • BMW
  • T-Mobile
  • Qualcomm
  • Stadtwerke München

Funding:

DFG

Publications:

Publications in the research are of 'Crowd Intelligence & Innovation'