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Technological Innovation and Prize Incentives - The Google Lunar X Prize and Other Aerospace Competitions (Hardcover)
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Technological Innovation and Prize Incentives - The Google Lunar X Prize and Other Aerospace Competitions (Hardcover)
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The 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.' - David J.
Teece, University of California, Berkeley, US'In 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
Luciano s new book.' - Dan (Danny) Breznitz, Georgia Institute of
Technology, US Inducement prizes - in which cash rewards are
offered to motivate the attainment of specific targets - 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. Contents:
Foreword 1. Introduction 2. Innovation, Policy and Prizes 3. Key
Questions and Hypotheses 4. Methodological Aspects 5. A First
Approach: The Ansari X Prize and the Northrop Grumman Lunar Lander
Challenge 6. A Closer Look: The Google Lunar X Prize 7. Discussion
8. Theory, Policy and Research Implications 9. Conclusions Appendix
References
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