Greenlighting Innovative Projects: How Evaluation Format Shapes the Perceived Feasibility of Novel Ideas

Abstract

Evaluation of novel projects is essential for scientific and technological advancement. However, evaluator bias toward a project’s potential can obscure its limitations. This study investigates evaluation formats by contrasting combined assessments of novelty and feasibility with feasibility-only evaluations. In collaboration with a leading research university, we executed a field experiment during a grant-funding opportunity where evaluators were exogenously assigned either a “combined-standard” evaluation or a “feasibility-only” evaluation. Results indicate that, relative to feasibility-only evaluators, combined-standard evaluators assign higher feasibility scores to novel projects, possibly overlooking limitations that could hinder a project’s implementation. In contrast, a feasibility-only approach might improve early detection of reasons novel projects could fail, suggesting that single-criterion evaluations of project feasibility could be more effective in recognizing potential pitfalls in innovative projects.

Keywords: scientific and technological innovation, project evaluation, feasibility, novelty, field experiment