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Concerning Federally Sponsored Inducement Prizes in Engineering and Science: Report of the Steering Committee for the
contest models, including contests that are funded and administered by agencies, contests that are initiated and administered by agencies yet privately funded, and contests that are initiated by agencies but privately funded and administered.
The design of any such experiment should include mechanisms for appropriating prize money, for flexibly distributing intellectual property rights, and for reducing political influence. Moreover, prize contest rules should be seen as transparent, simple, fair, and unbiased. Contest rewards should be commensurate with the effort required and goals sought. Finally, if such a policy experiment is initiated, it should be time-limited, and the use of prizes and contests should be evaluated at specified intervals by the agencies involved to determine their effectiveness and impact.