EVALIDEA

Designing Institutions to Evaluate Ideas

Coordinatore	UNIVERSITA COMMERCIALE LUIGI BOCCONI    more Spiacenti, non ci sono informazioni su questo coordinatore. Contattare Fabio per maggiori infomrazioni, grazie.
Nazionalità Coordinatore	Italy [IT]
Totale costo	1˙142˙200 €
EC contributo	1˙142˙200 €
Programma	FP7-IDEAS-ERC Specific programme: "Ideas" implementing the Seventh Framework Programme of the European Community for research, technological development and demonstration activities (2007 to 2013)
Code Call	ERC-2011-ADG_20110406
Funding Scheme	ERC-AG
Anno di inizio	2012
Periodo (anno-mese-giorno)	2012-06-01   -   2017-05-31

 Partecipanti

#	participant	country	role	EC contrib. [€]
1	KOBENHAVNS UNIVERSITET	DK	beneficiary	203˙400.00
2	UNIVERSITA COMMERCIALE LUIGI BOCCONI  Organization address address: Via Sarfatti 25 city: MILANO postcode: 20136 contact info Titolo: Mr. Nome: Luigi Cognome: Pellegrino Email: send email Telefono: +3902 5836 2242 Fax: +3902 5836 2187	IT (MILANO)	hostInstitution	938˙800.00
3	UNIVERSITA COMMERCIALE LUIGI BOCCONI  Organization address address: Via Sarfatti 25 city: MILANO postcode: 20136 contact info Titolo: Prof. Nome: Marco Maria Cognome: Ottaviani Email: send email Telefono: +3902 5836 3385 Fax: +3902 5836 3309	IT (MILANO)	hostInstitution	938˙800.00

Mappa

 Word cloud

Esplora la "nuvola delle parole (Word Cloud) per avere un'idea di massima del progetto.

 Obiettivo del progetto (Objective)

'Not all new ideas are equally valuable from a social perspective. As the readers of this document know all too well, “picking the winners” is challenging because innovations have highly uncertain outcomes.

The aim of this research project is to develop a general theoretical framework to investigate the design of institutions and mechanisms for evaluating new ideas and innovations. The proposed framework examine how these institutions function, draw parallels between them and suggest changes to ensure more accurate evaluation of ideas. Accurate evaluation is of paramount importance because in order for an idea to be successful, it is not enough that the idea be good. It is also necessary that the idea is recognized as good by those who evaluate it. As the evaluation process becomes more accurate, good ideas are more likely to be funded and incentives for the creation of good ideas are enhanced.

A key contribution of our framework is a characterization of the role played by evaluating institutions in overcoming the inefficiencies resulting from decentralized interaction. These institutions act as intermediaries between innovators and users, and thus are able to redress the market failure resulting when ideas are evaluated in a more decentralized way.

By viewing evaluating institutions through a common lens, we perform a comparative analysis of the workings of such diverse institutions as research funding bodies, government regulators, and screening panels of venture capitalists. With techniques from the economic theory of mechanism design, we intend to characterize the best institutional design for idea evaluation. We then compare this ideal benchmark with actual institutions and characterize how it depends on the primitive ingredients of the environment. Lastly, through empirical and experimental testing, we propose changes to institution design parameters and suggest modifications to the mechanisms created for the purpose of evaluating ideas.'