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November 16, 2009

Encouraging Innovation with Cash Prizes

The Computing Community Consortium (CCC) blog recently examined the role of monetary prize awards as an incentive for encouraging research in technical fields. In September, Netflix awarded a $1 million prize in a contest for the best algorithm for improving collaborative film ratings. The Clay Mathematics Institute and Wolfram Research are other organizations that have offered prizes for technical innovation. See the CCC blog for a discussion of the benefits and drawbacks of these awards.

Posted by BlogAuthor1 at November 16, 2009 1:22 AM
category: Philosophy of Computing

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