if you want research, buy research
Focusing money too closely on the research itself runs the risk that you'll end up paying for a lot of hot air dressed up to look like research. Cool-but-useless real-world applications are the costly signalling mechanism which demonstrates an underlying theory's validity to nonspecialists. You can't fly to the moon by tacking more and more epicycles onto the crystalline-sphere theory of celestial mechanics.
If you want to fly to the moon, buy flying to the moon. X-prizes etc. You still haven't shown that indirect mechanisms which happen to coincide with the status quo are the optimal way of achieving goals.
I just finished the first draft of my essay, "Are Sunk Costs Fallacies?"; there is still material I need to go through, but the bulk of the material is now there. The formatting is too gnarly to post here, so I ask everyone's forgiveness in clicking through.
To summarize:
(If any of that seems unlikely or absurd to you, click through. I've worked very hard to provide multiple citations where possible, and fulltext for practically everything.)
I started this a while ago; but Luke/SIAI paid for much of the work, and that motivation plus academic library access made this essay more comprehensive than it would have been and finished months in advance.