The science of scientific prizes

ABSTRACT Purpose This study synthesizes existing research on scientific prizes and outlines a framework for understanding how reward systems shape careers, credit allocation, and field trajectories. Design/methodology/approach We conducted a comprehensive literature review integrating scientometrics, the sociology of science, and economics to synthesize theoretical frameworks and empirical evidence on prize mechanisms, effects, and governance. Findings Scientific prizes function as signals in status hierarchies, interventions that redirect attention across people and topics, and governance tools whose design determines equity and recognition outcomes. Empirical evidence reveals significant impacts on winners, collaborators, and research areas following prize awards. However, current prize systems exhibit systematic biases across demographics and institutions that reinforce existing inequalities. Research limitations Empirical research remains fragmented across disciplines and prize types. Long-term longitudinal and cross-cultural comparative studies are needed to establish universal versus context-specific mechanisms. Practical implications Achieving more equitable prize systems requires addressing structural barriers in nomination and selection processes, while carefully balancing trade-offs between accessibility, administrative capacity, and community trust. Originality/value This study provides a comprehensive interdisciplinary framework for scientific prizes, offering evidence-based recommendations for prize design that better serve scientific progress and equity goals.