Using Mega-Cash Prizes to Incentivize Revolutionary Science

Balancing risk and reward

Balancing risk and reward

 

A new paper in Medical Hypotheses suggests that very big cash prizes could specifically be targeted to stimulate ‘revolutionary’ science. Usually, prizes tend to stimulate ‘applied’ science — as in the most famous example of Harrison’s improved clock solving the ‘longitude’ problem. But for prizes successfully to stimulate revolutionary science the prizes need to be three key elements. Details after the jump.

 

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