Ordinarily, a philanthropic foundation offering a prize meant to advance scientific understanding of some topic X would put at mot one or two of its own members on the prize panel. The rest of the panel would be composed of leading scientists, academics, industry professionals, and perhaps a few policymakers. They might also consider inviting leaders of relevant foundations. Most members of the panel would be chosen for specific expertise in topic X combined with broad respect and experience within their fields, although a few panelists might be chosen to represent generalist constituencies (for example, a university president). Members would typically be at mid- or late-career stages, and have substantial research records of their own as well as the esteem of their peers. They might, as appropriate, draw on a broader pool of peer reviewers or nominators in early rounds of the selection process.
Prizes would typically be broadly advertised, and left open for a sufficient period to allow original research (at least six months). They would encourage submissions of a standard length for original research contributions, rather than discouraging submissions greater than 5,000 words. If the focus was solely on the individual piece of submitted work, the review process would be double- or triple-blinded and announced as such.
I could go on, but I take it that all of the above are fairly standard.
Ordinarily, a philanthropic foundation offering a prize meant to advance scientific understanding of some topic X would put at mot one or two of its own members on the prize panel. The rest of the panel would be composed of leading scientists, academics, industry professionals, and perhaps a few policymakers. They might also consider inviting leaders of relevant foundations. Most members of the panel would be chosen for specific expertise in topic X combined with broad respect and experience within their fields, although a few panelists might be chosen to represent generalist constituencies (for example, a university president). Members would typically be at mid- or late-career stages, and have substantial research records of their own as well as the esteem of their peers. They might, as appropriate, draw on a broader pool of peer reviewers or nominators in early rounds of the selection process.
Prizes would typically be broadly advertised, and left open for a sufficient period to allow original research (at least six months). They would encourage submissions of a standard length for original research contributions, rather than discouraging submissions greater than 5,000 words. If the focus was solely on the individual piece of submitted work, the review process would be double- or triple-blinded and announced as such.
I could go on, but I take it that all of the above are fairly standard.
Point taken: I have a better idea what you mean you make it concrete in that way.