Dynamic Decisions for Knowledge-Based Value Co-Creation

摘要

Knowledge-based value co-creation refers to the joint work on applying knowledge such as technologies, skills and expertise to solve problems. In this paper, we study how to make decisions dynamically when the main creator cooperates with a co-creator. We develop a theoretical model to analyze the optimal effort level and output of value. The results highlight that the co-creation is a win-win strategy for both the main creator and the co-creator. The equilibrium also indicates that creators will try their best to create value in the beginning phrase and they put less and less efforts over time. However, the output of value has a peak at a certain time instant. This study provides managerial implications by exploring the sensitivity of parameters. The monetizing ability and the output sensitivity factor have positive impacts on the optimal efforts and net incomes, while the marginal cost and the natural decay rate of value affect them in a negative way.