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Concerning Federally Sponsored Inducement Prizes in Engineering and Science (1999) / Chapter Skim
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Conclusions and Recommendations
Pages 14-20

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From page 14...
... Accordingly, the steering committee believes that by drawing on this limited knowledge base, federal agencies that sponsor research, technology development, and deployment in engineering and science should be encouraged to engage in limited experiments with inducement prize contests.
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From page 15...
... Specifically, the committee recomn~ends that Congress encourage federal agencies to study further the feasibility of inducement prize contests as a potential complement to their existing portfolio of science and technology policy instruments. In addition, Congress should consider providing explicit statutory authority and, where appropriate, credible funding mechanisms for agencies to sponsor and/or fund such contests.
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From page 16...
... ~ 998. The economics of university indirect cost reimbursement in federal research grants.
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From page 17...
... Th American Economic Review 85~4~:872-890. e Zuckerman, H
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From page 18...
... Moreover, contests for publicly funded research grants in highly competitive fields of research have also been looked at as "prize contests." This research seeks to explain the incentive structure and dynamic of "prize-like" policy instruments and to assess their effectiveness relative to other policy mechanisms, and as such offers useful insights concerning the design of explicit inducement prize contests. However, the focus of the NAE workshop and this report is on explicit prize contests, i.e., contests for a named prize or award, not on "prizelike" contests.
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From page 19...
... Fountain writes, "This form of capital, as powerful and physical as human capital, is the 'stock' that is created when a group of organizations develops the ability to work together for mutual productive gain." 23 Personal correspondence of 2 May 1999 from John S Langford, President, Aurora Flight Sciences Corporation, to Proctor Reid, Associate Director, Program Office, National Academy of Engineering.
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Key Terms

  • inducement prize
  • cash prizes
  • policy instruments
  • federally sponsored
  • limited experiments

  • loebner prize
  • american economic
  • societal objectives
  • economic review
  • nobel prizes

  • nae workshop
  • particular scientific
  • privately funded
  • prize contest
  • particular prize

  • agency proper
  • wolfskehl prize
  • distributing intellectual
  • malcolm baldrige
  • encourage federal

  • broader spectrum
  • technological advance
  • fountain writes
  • explicit statutory
  • statutory authority

  • major federal
  • sponsor research
  • flexible approach
  • explicit inducement
  • consider providing


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