RESEARCH PRIZES: A MECHANISM TO REWARD INNOVATION IN AFRICAN AGRICULTURE
William Masters
No 22162, 2003 Annual meeting, July 27-30, Montreal, Canada from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)
Abstract:
This paper identifies market failures that limit agricultural R&D for Africa and other resource-poor environments, and proposes a mechanism to help circumvent them with cash prizes for the dissemination of successful innovations. The proposed prize institution would use ex-post experiments and farm surveys to document the value of innovations after their initial diffusion, to avoid pre-specification of technologies. Prizes would be offered in proportion to estimated social benefits, and would buy innovations into the public domain so that innovators with marketable technologies would choose not to apply for prizes. A governance structure to ensure credibility and financial sustainability is proposed.
Keywords: Research; and; Development/Tech; Change/Emerging; Technologies (search for similar items in EconPapers)
Pages: 27
Date: 2003
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Citations: View citations in EconPapers (11)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea03:22162
DOI: 10.22004/ag.econ.22162
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