TL;DR: we are budgeting $10,000 in Gitcoin bounties across 20+ Github issues for the next 3 weeks.
"We must also make ourselves flexible, to avoid becoming too devoted to the plans we have formed." — Seneca
The value of a bounty is just an initial estimate based on @Jeff Tang's intuitive understanding of "Value" (to users, contributors, and Athens Research) and "Effort" (for a contributor).
The bounty amount may change for a variety of factors in addition to the points above. Before we discuss these factors, it will help to first understand the Project Types available on Gitcoin. Each type has its tradeoffs. Not all of our bounties need to map directly to these 3 types.
Gitcoin calls these Project Types. "Game" as in Game Theory is perhaps more precise. See https://www.youtube.com/watch?v=MHS-htjGgSY and https://www.nateliason.com/notes/finite-infinite-games-james-carse for more context on Games.