Many happy returns!
Posted by Daniel Hall on June 26, 2008
Joshua Gans suggests one possible benefit of McCain’s battery prize — the U.S. can have its cake and eat it too:
One real possiblility is that someone outside of the US invents this (perhaps quicker because they have to race with US based researchers who get a prize kick). In that case, the US can send whomever does it a thank you card. They have put competitive pressure on them and haven’t spent a cent!