Technology Prizes for Climate Change Mitigation

Richard Newell and Nathan Wilson ()

RFF Working Paper Series from Resources for the Future

Abstract: We analyze whether technology inducement prizes could be a useful complement to standard research grants and contracts in developing climate change mitigation technologies. We find that there are important conceptual advantages to using inducement prizes in certain circumstances. These conceptual inferences are borne out by an examination of the track record of prizes inducing research into public goods, including relevant energy technologies. However, we also find that the prizes’ successes are contingent on their proper design. We analyze how several important design elements could influence the effectiveness of a climate technology prize.

Keywords: inducement prize; research and development; climate change; technology; policy (search for similar items in EconPapers)
JEL-codes: C68 D81 Q28 (search for similar items in EconPapers)
Date: 2005-06-28
New Economics Papers: this item is included in nep-ene, nep-env and nep-ino
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (15)

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Working Paper: Technology Prizes for Climate Change Mitigation (2005)
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