Concerning Federally Sponsored Inducement Prizes in Engineering and Science (1999) / Chapter Skim
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Design and Administration of Inducement Prize Contests
Design and Administration of Inducement Prize Contests
Pages 10-12
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From page 10... ...
One example of a best-entry inducement prize contest is the privately funded Loebner Prize, which each year gives a cash award and a medal for the computer that gives the most "human" responses to questions.25 Another best-entry prize might reward the development of toys that stimulate scientific learning in children, an important educational goal of the nation. Examples of definedobjective contests are aviation prizes such as the aforementioned Oertig and Kremer Prizes.
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From page 11... ...
The closer the objectives of an inducement prize contest lie to perceived market opportunities and the existing capabilities of would-be contestants, the lower the costs of competing for it will be, and the smaller the prize needs to be to attract competitors. Conversely, the further a contest's objectives lie from perceived market opportunities (high-risk challenges far beyond the current technological horizon, or otherwise neglected technologies or societal challenges)
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From page 12... ...
While this report is aimed primarily at federal agencies, the same principles of prize contest design and administration can apply to inducement prizes funded or administered by the private sector. In terms of administration, it is logical to expect a range of models for contests, including: Agency funding and administration Private funding and administration Joint agency-private funding and administration Private funding, agency administration For federal agencies to fund inducement prize contests, Congress (congressional committees)
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