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Research Prizes: A Mechanism to Reward Agricultural Innovation in Low-Income Regions
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Research Prizes: A Mechanism to Reward Agricultural Innovation in Low-Income Regions
Please use this identifier to cite or link to this item: http://hdl.handle.net/10355/243
| Title: | Research Prizes: A Mechanism to Reward Agricultural Innovation in Low-Income Regions |
| Author: | Masters, William A. |
| Keywords: |
intellectual property
incentives for research private provision of public goods |
| Date: | 2003 |
| Publisher: | AgBioForum |
| Citation: | AgBioForum, 6(1&2) 2003: 71-74. |
| Abstract: | This paper identifies market failures that limit biotechnology research for farmers in low-income regions and proposes a system of cash prizes to reward the dissemination of successful innovations. The prize authority would specify a target region(e.g., Sub-Saharan Africa) and offer to pay a fixed proportion(e.g., 20%) of the estimated social value of any innovation, computed using standard procedures, to buy out the innovation into the public domain. A governance structure to ensure credibility and financial sustainability is proposed. |
| URI: | http://hdl.handle.net/10355/243 |
| ISSN: | 1522-936X |
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AgBioForum, vol. 06, no. 1 & 2 (2003) [16]
Contents of volume 6, numbers 1 and 2.