Mission Innovation: Incentivizing Technologies

This lecture discusses the main issues related to incentivizing mission innovation, focusing on the directionality of tools, principal-agent problems, information requirements, and the balance between reward and access. It explores the use of push and pull mechanisms, such as subsidies, prizes, and public procurement, to stimulate innovation in specific fields. The presentation highlights historical examples, like the Longitude Prize and the Silk Industry in Lyon, to illustrate the effectiveness of reward-based systems in promoting technological advancements. Additionally, it delves into modern applications of innovation challenges, like the Lunar Lander X Challenge and the Oil Cleanup X Challenge, showcasing how incentivized competitions can drive progress in various industries.