Government by prize

June 09, 2017

It was an intriguing idea, Kalil thought: Could the U.S. government get better research results if it offered prizes? Could it become a “third leg of the stool”–in addition to contracts and grants – for the federal government to support innovation? “It occurred to me that the government has trillions of dollars contingent on failure,” Kalil recalled in an interview. “Why don’t we make payments that are contingent on success?”