How economic theory and the Netflix Prize could make research funding more efficient

(University of Washington) In a paper published Jan. 2 in PLOS Biology, two scientists at the University of Washington and North Carolina State University use the economic theory of contests to illustrate how the competitive grant-application system has made the pursuit of research funding inefficient and unsustainable -- and that alternative methods, such as a partial lottery to award grants, could relieve pressure on professors and free up time for research.

from EurekAlert! - Social and Behavioral Science http://bit.ly/2Rq9W8W