Accelerating innovation with prize rewards: History and typology of technology prizes and a new contest design for innovation in African agriculture
"This paper describes how governments and philanthropic donors could drive innovation through a new kind of technology contest. We begin by reviewing the history of technology prizes, which operate alongside private intellectual property rights and public R&D to accelerate and guide productivity growth towards otherwise-neglected social goals. Proportional “prize rewards” would modify the traditional winner-take-all approach, by dividing available funds among multiple winners in proportion to measured achievement. This approach would provide a royalty-like payment for incremental success. The paper provides concludes with a specific example for how such prizes could be implemented to reward and help scale up successful innovations in African agriculture, through payments to innovators in proportion to the value created by their technologies after adoption. " from authors' abstract
|Date of creation:||2008|
|Contact details of provider:|| Postal: 1201 Eye Street, NW, Washington, DC 20005-3915|
Web page: http://www.ifpri.org/
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Glenn C. Loury, 1979.
"Market Structure and Innovation,"
The Quarterly Journal of Economics,
Oxford University Press, vol. 93(3), pages 395-410.
- Glenn C. Loury, 1976. "Market Structure and Innovation," Discussion Papers 256, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- Michael Kremer, 1997. "Patent Buy-Outs: A Mechanism for Encouraging Innovation," NBER Working Papers 6304, National Bureau of Economic Research, Inc.
- Brunt, Liam & Lerner, Josh & Nicholas, Tom, 2008. "Inducement Prizes and Innovation," CEPR Discussion Papers 6917, C.E.P.R. Discussion Papers.
- Kremer, Michael & Zwane, Alix Peterson, 2005. "Encouraging Private Sector Research for Tropical Agriculture," World Development, Elsevier, vol. 33(1), pages 87-105, January.
- Ernst R. Berndt & Rachel Glennerster & Michael R. Kremer & Jean Lee & Ruth Levine & Georg Weizsäcker & Heidi Williams, 2007. "Advance market commitments for vaccines against neglected diseases: estimating costs and effectiveness," Health Economics, John Wiley & Sons, Ltd., vol. 16(5), pages 491-511.
- Ernst R. Berndt & Rachel Glennerster & Michael Kremer & Jean Lee & Ruth Levine & Georg Weizsacker & Heidi Williams, 2006. "Advance Market Commitments for Vaccines Against Neglected Diseases: Estimating Costs and Effectiveness," CID Working Papers 127, Center for International Development at Harvard University.
- Newell, Richard & Wilson, Nathan, 2005. "Technology Prizes for Climate Change Mitigation," Discussion Papers dp-05-33, Resources For the Future.
- Wright, Brian Davern, 1983. "The Economics of Invention Incentives: Patents, Prizes, and Research Contracts," American Economic Review, American Economic Association, vol. 73(4), pages 691-707, September.
- Lawrence Officer & Samuel Williamson, 2006. "Better Measurements of Worth," Challenge, M.E. Sharpe, Inc., vol. 49(4), pages 86-110, July. Full references (including those not matched with items on IDEAS)