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Based on the operation process analysis of the third-party platform crowdsourcing innovation model, this paper proposes that the essence of crowdsourcing innovation is the value co-creation of multi-agent participation. Based on grounded theory, this paper constructs the theoretical model of the realization mechanism of multi-agent participation value co-creation in crowdsourcing innovation from the three parties\u2019 perspective. This research finds that value co-creation factors include six factors: task attributes, incentive mechanisms, trust mechanisms, the platform supports, participation motivation, and diversities. The process of value co-creation includes resource integration and interaction. The results of value co-creation include three elements: innovation value, knowledge value, and relationship value.<\/jats:p>","DOI":"10.3233\/jifs-189986","type":"journal-article","created":{"date-parts":[[2021,5,18]],"date-time":"2021-05-18T13:39:58Z","timestamp":1621345198000},"page":"4995-5006","update-policy":"https:\/\/doi.org\/10.1177\/sage-journals-update-policy","source":"Crossref","is-referenced-by-count":10,"title":["Value co-creation mechanisms of multi-agent participation in crowdsourcing innovation: A grounded theory study"],"prefix":"10.1177","volume":"41","author":[{"given":"Meng","family":"Qingliang","sequence":"first","affiliation":[{"name":"School of Management &amp; Economics, Jiangsu University of Science &amp; Technology, Zhenjiang, China"}]},{"given":"Hang","family":"Yi","sequence":"additional","affiliation":[{"name":"School of Management &amp; Economics, Jiangsu University of Science &amp; Technology, Zhenjiang, China"}]},{"given":"Chen","family":"Xiaojun","sequence":"additional","affiliation":[{"name":"School of Humanities &amp; Social Sciences, Jiangsu University of Science &amp; Technology, Zhenjiang, China"}]},{"given":"Cao","family":"Qiaoyi","sequence":"additional","affiliation":[{"name":"School of Management &amp; Economics, Jiangsu University of Science &amp; Technology, Zhenjiang, China"}]}],"member":"179","published-online":{"date-parts":[[2021,5,14]]},"reference":[{"key":"e_1_3_2_2_2","doi-asserted-by":"publisher","DOI":"10.5465\/amr.2010.0146"},{"key":"e_1_3_2_3_2","first-page":"1","article-title":"CCV Scale: Development and validation of customer co-created value scale in E-services","volume":"38","author":"Agrawal A.K.","year":"2017","unstructured":"AgrawalA.K. and RahmanZ., CCV Scale: Development and validation of customer co-created value scale in E-services, Current Psychology38 (2017), 1\u201317.","journal-title":"Current Psychology"},{"key":"e_1_3_2_4_2","doi-asserted-by":"publisher","DOI":"10.1108\/JSM-02-2017-0044"},{"key":"e_1_3_2_5_2","doi-asserted-by":"crossref","unstructured":"KelleherC. 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