Open Innovation Environments Considering Organizational Learning and Self-Organization in Startup Valuation Using Game Theory.

Various recent studies have demonstrated that societies which have embraced open innovation methods are more proactive to improve their industrial and economic performance. Exploring several paradigms and theories, the present study was conceived with the goal of determining whether self-organization and organizational learning can indeed affect open innovation environments (OIEs). By collecting field data on the current status of self-organization and learning, this study investigates the impact of the two processes in OIEs on startups. The relationship between self-organization and learning is assessed using structural equation modeling (SEM). After validating the developed model, the cooperative games of the startups in the aforementioned OIE are examined. In the end, the economic value of each startup is obtained through game theory and the Shapley value. The studied startups were valued in both open and closed innovation environments to assess the economic implications of investment under the two paradigms. The results confirm that making investments is more justifiable when a startup is part of an OIE. Moreover, the value of each startup further increased in OIE due to the synergistic effect of collaborating with other startups in the innovation network. [ABSTRACT FROM AUTHOR]