One could also argue for prioritizing funding for work that has already been done over work that has been approved but not yet done. If someone was going to receive a grant to do certain work and has it been pulled, that is unfair and a loss to them . . . but it’s not as bad (or as damaging to the community / future incentives) as denying people payment for work they have already done.
How this logic translates to a prize program is murky. But unless you believe that the prize’s existence did not cause people to work more (i.e., that the prize program was completely ineffective), its cancellation would mean people are not going to be paid for work already performed.
Of course, it might be possible to honor the commitment made for that work in some fashion that doesn’t involve awarding full prizes.
One could also argue for prioritizing funding for work that has already been done over work that has been approved but not yet done. If someone was going to receive a grant to do certain work and has it been pulled, that is unfair and a loss to them . . . but it’s not as bad (or as damaging to the community / future incentives) as denying people payment for work they have already done.
How this logic translates to a prize program is murky. But unless you believe that the prize’s existence did not cause people to work more (i.e., that the prize program was completely ineffective), its cancellation would mean people are not going to be paid for work already performed.
Of course, it might be possible to honor the commitment made for that work in some fashion that doesn’t involve awarding full prizes.