Prizes as Incentives. Reflections on a Century o f Aviation Contests

Lee Davis and Jerome Davis

Chapter 12 in Contemporary Management of Innovation, 2006, pp 230-247 from Palgrave Macmillan

Abstract: Abstract The dream of ‘space tourism’ has long been confined to the imaginations of science fiction writers. But in 1996, former aerospace engineer Peter Diamandis announced the $10 million ‘X-Prize’, to jump-start the development of a new generation of launch vehicles to carry ordinary people into space. In late October 2004, test pilot Mike Melville successfully flew the SpaceShipOne more than one hundred kilometres into the upper atmosphere, briefly experiencing weightlessness, before returning to earth. In early November, another test pilot, Commander Brian Binnie repeated the trip, and won the prize. A new era of suborbital passenger flight had begun (Bigelow, 2004; Davis & Davis, 2004).

Keywords: Incentive Effect; Patent System; Aviation Industry; Contemporary Management; Contest Design (search for similar items in EconPapers)
Date: 2006
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DOI: 10.1057/9780230378841_16

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