Optimal innovation incentive strategies within the health crowdsourcing platform

Jianyue Liu, Zhiqiang Ma and Binxin Zhu

Managerial and Decision Economics, 2024, vol. 45, issue 6, 4305-4319

Abstract: Lack of incentive strategies within the health crowdsourcing platform has resulted in the loss of patient innovation and the failure in the diffusion of patients' innovations. To solve this problem, we compared four incentive strategies: (i) without incentive, (ii) cost‐sharing incentive, (iii) revenue‐sharing incentive, and (iv) a hybrid incentive strategy combining cost‐sharing and revenue‐sharing. Our analysis indicates that the innovation guidance effect is at its lowest level without incentive strategies, and the hybrid incentive strategy can maximize both innovation enthusiasm and profits. Furthermore, there exists a threshold for revenue‐sharing ratio, making the incentive effect of revenue‐sharing strategy better than that of the cost‐sharing strategy. Finally, short‐sighted thinking among platform participants will reduce the innovation enthusiasm of altruistic patients and the incentive investment of the platform. This study provides guiding principles for the health crowdsourcing platform to regulate online patient innovation solutions.

Date: 2024
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https://doi.org/10.1002/mde.4235

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Persistent link: https://EconPapers.repec.org/RePEc:wly:mgtdec:v:45:y:2024:i:6:p:4305-4319

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