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

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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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