The Effectiveness of Prizes as Catalysts of Innovation

In many fields there is a huge disparity—order of magnitude or more—between the productivity of the top performers and the median performers. The structure of the corporation, having co-evolved with the industrial revolution for harnessing workers to build railroads or textiles, is fundamentally limited in its ability to reward employees in creative endeavors in proportion to their contribution, or even measure it. Academia is a little better due to the precedence of fame over monetary reward, but has its own problems.

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Posted: June 7th, 2011
at 11:25am by mnp


Categories: competitions,development,innovation

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