The Victory Project will award billion-dollar prizes for the first person who solves any of these problems:
- Develop a cure for breast cancer.
- Develop a cure for diabetes.
- Reduce greenhouse emissions from petroleum powered automobiles by 95% without increasing the cost of a normal car more than 5%.
- Achieve 150 miles per gallon of gasoline in a 3,000 lb. car, using EPA standards; without increasing the cost of a normal car more than 10%.
Arnold Kling writes:
My first reaction is that I would rather see do-gooders using this sort of thing than trying to work the political system.
Read Tim Hartford's review of the promises and problems with prizes.