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Want to solve society's most urgent problems? Cash prizes can spur breakthroughs

  • Written by Luciano Kay, Research Associate at the Institute for Social, Behavioral and Economic Research, University of California, Santa Barbara
Want to solve society's most urgent problems? Cash prizes can spur breakthroughsMany prizes that aim to spur innovation are winner-take-all.VCG for 2019 RoboMaster Robotics Competition Final Tournament via Getty Images

Innovation is a critical part of tackling problems in areas as diverse as transportation, housing, public health and energy. But the scientists, inventors and entrepreneurs who might generate creative solutions...

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