Incentive Competitions as a Policy Tool for Technological Innovation - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Incentive Competitions as a Policy Tool for Technological Innovation write by Georgina Amy Campbell. This book was released on 2011. Incentive Competitions as a Policy Tool for Technological Innovation available in PDF, EPUB and Kindle. Large incentive competitions are becoming increasingly popular amongst policymakers and philanthropists as a mission-orientated tool for inducing innovation, particularly in areas of national priority where market incentives and conventional tools such as patents and procurements tend not to be sufficient. Using inducement mechanisms (motivators) such as a large financial reward, demanding deliverables, and technical support, incentive competitions seek to motivate innovators to exert effort and develop creative solutions to pre-defined problems. According to the literature, these motivators can be powerful mechanisms for influencing effort and creativity but their effectiveness very much depends on the combination of motivators used and conditions under which they are executed. There is a serious lack of empirical evidence on the motivators and conditions of large incentive competitions and their effectiveness to influence behaviour and outcomes. Therefore, we cannot fully appreciate the role of large incentive competitions in the innovation policy tool kit. A small body of empirical data exists on the impact of motivators within small online prizes but these prizes are very different to large incentive competitions in terms of the intended motivators incorporated and the competition environment. Through qualitative and quantitative analysis of one large incentive competition- the Progressive Automotive XPRIZE (PIAXP), this thesis aims to explore the motivators incorporated into PIAXP and their ability to orient people towards a specified mission and induce innovative behaviour. In turn, this thesis aims to 1) better understand the role incentive prizes as an innovation tool and 2) identify the motivators and prize design that can be used in incentive competitions to promote desired outcomes. My research identifies two unique features of PIAXP, which can provide insight into large incentive competitions in general. 1) PIAXP effectively attracted and focused a diverse set of solvers on a specific problem, who otherwise would not or could not pursue the prize objective(s). For example, 35% of teams did not exist before. Of those teams that did exist, 30% were informal and 17% were non-vehicle- related, all turning to formal vehicle teams for the PIAXP; 2) PIAXP facilitated the development of participating teams and ideas, and actively induced innovative behaviour during the competition. These findings emphasize the important of motivators and prize design to attract and support the development of solvers and solutions. In terms of competition design, participants and organizations were influenced in different ways. Influential motivators included: recognition (validation, publicity, and personal pride), performance accelerators (business and personal), and intrinsic passion for the cause. Other elements of design that influenced entry levels and behaviour included: structure (length/ barriers to entry), categories (broad, specific or multiple), collaborative events, and support (for the organization and individual). Success within PIAXP was positively correlated with compensation and competition but negatively correlated with recognition. Effort was positively correlated with reputation but negatively correlated with fun.
Innovation Matters
Innovation Matters - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Innovation Matters write by Richard J. Gilbert. This book was released on 2020-07-14. Innovation Matters available in PDF, EPUB and Kindle. A proposal for moving from price-centric to innovation-centric competition policy, reviewing theory and available evidence on economic incentives for innovation. Competition policy and antitrust enforcement have traditionally focused on prices rather than innovation. Economic theory shows the ways that price competition benefits consumers, and courts, antitrust agencies, and economists have developed tools for the quantitative evaluation of price impacts. Antitrust law does not preclude interventions to encourage innovation, but over time the interpretation of the laws has raised obstacles to enforcement policies for innovation. In this book, economist Richard Gilbert proposes a shift from price-centric to innovation-centric competition policy. Antitrust enforcement should be concerned with protecting incentives for innovation and preserving opportunities for dynamic, rather than static, competition. In a high-technology economy, Gilbert argues, innovation matters.
Technological Innovation and Prize Incentives
Technological Innovation and Prize Incentives - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Technological Innovation and Prize Incentives write by Luciano Kay. This book was released on 2012-01-01. Technological Innovation and Prize Incentives available in PDF, EPUB and Kindle. ÔThe recent renaissance in the use of prizes to spur innovation and extraordinary novel performance warrants close attention. Luciano Kay does so through a series of compelling case studies which shows the potential of prizes, the range of factors that influence their performance and the importance of understanding their non-pecuniary dimensions, even when there is a substantial purse. This is an important contribution to the innovation literature.Õ Ð David J. Teece, University of California, Berkeley, US ÔIn the last decade innovation prizes have caught the imagination of policy makers and rich donors alike; those who actually care about the process and outcome of prizes and not only the hype, would do well to read LucianoÕs new book.Õ Ð Dan (Danny) Breznitz, Georgia Institute of Technology, US Inducement prizes Ð in which cash rewards are offered to motivate the attainment of specific targets Ð have long been used to stimulate scientific discovery and technology research and development. This volume presents an empirical investigation of the effect of these prizes on innovation. In this in-depth study, Luciano Kay focuses on three recent cases of prize competitions in the aerospace industry: the Google Lunar X Prize, the Ansari X Prize and the Northrop Grumman Lunar Lander Challenge. Using a combination of real-time and historical analysis based on personal interviews, workplace visits and questionnaire and document data analysis, the author examines the particular dynamics of the prize phenomenon and offers a comprehensive discussion of the potential of prizes to induce innovation. This fascinating volume also sets out a systematic method to studying prize incentives, offering a concrete innovation model and case study design approach that will prove highly useful to further research efforts in the field. Scholars, policymakers and corporate officials interested in incentives for innovation and the practical implementation of prize competitions will find this an invaluable resource. Potential prize sponsors and entrepreneurs, professionals and other individuals or organizations interested in participating in such competitions will also find much of interest in this groundbreaking book.
The Incentives and Disincentives of Innovation Prizes
The Incentives and Disincentives of Innovation Prizes - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook The Incentives and Disincentives of Innovation Prizes write by Bharat Bhushan (S. M.). This book was released on 2010. The Incentives and Disincentives of Innovation Prizes available in PDF, EPUB and Kindle. Technological innovation is driven by incentives. However, our understanding of how incentives actually work "on the ground" to change the level of activity of innovators or to shape the direction of their innovation is relatively limited. This thesis contributes to this understanding by focusing on innovation prizes (as applied to the energy industry). It aims to examine how prizes provide a useful but also a limiting incentive for companies in a particular arena of R&D. Specifically, the thesis involves a survey of the teams that dropped out from a highly publicized prize competition to learn about their motivations and perspectives about the competition. How companies/teams understand and evaluate the technologies that they promote involves as much understanding of the technologies as of the economic models of incentives. This thesis uses a survey based methodology to explore the impact of a particular incentive structure - prizes - on a group of teams who initially participated in the prizes and then later decided to drop out. By selecting the drop out group we were able to explore the details of the prize as an innovation mechanism in more detail. The survey results reveal that the dropped out teams believed the prize to be an opportunity to raise money for their projects. Their inability to raise enough funds and eventual dropping out did not decrease their excitement about prizes as an ideal incentive to bring about radical change even though, the dropped out teams judged the specific prize competition as less than ideal. As a consequence, the thesis concludes that the prize incentive has a close relationship with and hence extends the financial infrastructure of a society.
The Dual-Entity of Market Competition
The Dual-Entity of Market Competition - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook The Dual-Entity of Market Competition write by Yunxian Chen. This book was released on 2021-12-28. The Dual-Entity of Market Competition available in PDF, EPUB and Kindle. The relationship between the government and the market lies at the heart of Economics as a discipline. This title approaches this issue with a new lens termed mezzoeconomics—A branch of modern economics that mainly studies regional economic entities and the allocation of regional resources after they are generated. Combining mezzoeconomic theory with practice in the light of China’s Reform and Opening-up, the author analyzes the regional governments’ participation in market competition, the dual entities (enterprises and regional governments) of market competition, and a mature market economy featuring a strong form of effective government and efficient market. Three corresponding theories are proposed—the Regional Government Competition Theory, the Dual-Entity of Market Competition Theory (DEMC), and the “Double Strong Forms” Theory. The author hopes that these theories of mezzoeconomics can build a new, effective theoretical model and serve as a guidance for regional governments to reform and innovate their governance philosophy and policies. This book will be of keen interest to students and scholars of economics and regional governance.
