An inducement prize contest (IPC) is a competition that awards a cash prize for the accomplishment of a feat, usually of engineering. IPCs are typically designed to extend the limits of human ability. Some of the most famous IPCs include the Longitude prize (1714–1765), the Orteig Prize (1919–1927) and the prizes from the X Prize Foundation.
IPCs are distinct from recognition prizes, such as the Nobel Prize, in that IPCs have prospectively defined criteria for what feat is to be achieved for winning the prize, while recognition prizes may be based on the beneficial effects of the feat.
source: https://en.wikipedia.org/wiki/Inducement_prize_contest
Hi Mati, I'm discussing with people right now about how to make bountied rationality as an inducement prize platform for public goods. We also have a discord server for it. Would you be willing to connect on FB?
I'd love that, yes! https://www.facebook.com/mati.roy.09