The purpose of this paper is to propose a system for regularly offered government-sponsored technology prizes. Such prizes would preserve the incentive to invent without the…
Abstract
Purpose
The purpose of this paper is to propose a system for regularly offered government-sponsored technology prizes. Such prizes would preserve the incentive to invent without the barriers to entry that come with the patent system. This is of particular interest to entrepreneurs as they lack the patent portfolio that incumbent firms can leverage into derivative technology.
Design/methodology/approach
After reviewing various efficiency concerns with the patent system, the author describes how technology prizes could work alongside the patent system. Such prizes are best when the sponsor can capture as much of the technology spillover as possible – i.e. through a government agency. This paper provides a framework for a practical prize structure while paying special attention to combating the logistical and public choice concerns of creating a prize.
Findings
This paper focuses on two methods to prevent inefficiency in government-sponsored prize: truth-bonding and information markets. Each mechanism helps combat different kinds of problems. Various complications to this system are explored and addressed.
Practical implications
The paper suggests that an efficient prize system is a possible policy and, if implemented, would embolden technology-focused entrepreneurship and other subsequent technological development.
Originality/value
While previous work has noted the benefits of technology prizes over patents, few attempts have been made to outline an incentive-compatible system for doing so. This paper is the first of its kind to propose a practical and efficient government-sponsored prize system.
Details
Keywords
– The purpose of this article is intended to record the author’s personal reflections on his term of office as President of the American Marketing Association (AMA).
Abstract
Purpose
The purpose of this article is intended to record the author’s personal reflections on his term of office as President of the American Marketing Association (AMA).
Design/methodology/approach
Personal reflections are provided in an autobiographical approach.
Findings
The article discusses the AMA situation during the 1970s, membership and conferences, the Office of the President and the author’s goals and objectives as President of the AMA. Other issues discussed include certification, Canadian affiliates, the New York Chapter and how the AMA handled the Journal of Consumer Research and the Journal of Marketing during this period in time. International issues during the author’s Presidency included the International Marketing Federation, AMA’s International Activities and Strategic Plans and the Global Division. Political issues included dealing with the Doctoral Consortium, Bureau of the Census, the White House Department of Consumer Affairs, AMA Advocacy and a definition of Marketing.
Originality/value
This article records events and memories that might otherwise be forgotten. No other such account has been published of William Lazer’s term as President of the AMA.