Motorola uses a prediction market to gather new ideas from employees and predict their success based on how willing individuals are to buy “stock” in them. They launched a system called ThinkTank in 2003 to collect potential innovations. Employees are given $100K in virtual dollars to vote on ideas at $10 per share.
Perhap government staff could participate in a similar effort to stimulate innovations and involve more people in the decision process. I would suggest that a small group review the finalists, assess scope/cost and make final recommendations.
Has anyone tried this or something like it? Read more about Motorola’s use of prediction markets in CIO article by Kirstin Burnham.