Market Shaping at the University of Chicago: Promoting needed innovation

 One of many exciting talks yesterday at the first day of the New Directions in Market Design conference was by U. Chicago's Rachel Glennerster who announced the new market design initiative at U. Chicago:

Introducing the University of Chicago's Market Shaping Accelerator. Designing market shaping mechanisms to spur innovation to help solve some of the biggest global challenges.

"Accelerating Innovation

"Threats to the global community — such as climate change and pandemics — demand urgent innovation and action at scale. But when commercial incentives for innovation trail behind the social value, market shaping instruments are required to credibly signal demand and spur and scale up innovation.

"The Market Shaping Accelerator aims to harness the momentum and interest in these tools generated from global successes in vaccine development to accelerate their adoption by governments, multilateral institutions, and philanthropies to solve the world’s most pressing challenges.

"Nobel Laureates, Leading Scholars and Innovators Advance the Use of Market Shaping Instruments to Address Global Challenges​

"The Market Shaping Accelerator brings together the world’s leading market shaping experts. The team behind the Accelerator has contributed to both foundational research and prominent policy successes of market shaping mechanisms, including the Pneumococcal and Frontier Advanced Market Commitments (AMCs)."

Rachel Glennerster speaking about market shaping