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A proposal for including technical failure risk in market-based resource reallocation for spacecraft design

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  • Guikema, Seth

Abstract

This paper summarizes past efforts to use market-based approaches to reallocate resources during the design of space systems, and it proposes an extension to these previous efforts that would include the risk of system failure as a tradable resource. The proposed approach builds from the Cassini Resource Exchange, a method used to allow instrument developers for the Cassini space mission to trade resources among themselves over the life of the project. Market-based design methods offer potential for increased efficiency in engineering design, and small-scale field trials would be a logical step in further testing and improving these approaches.

Suggested Citation

  • Guikema, Seth, 2007. "A proposal for including technical failure risk in market-based resource reallocation for spacecraft design," Reliability Engineering and System Safety, Elsevier, vol. 92(5), pages 653-659.
    • Handle: RePEc:eee:reensy:v:92:y:2007:i:5:p:653-659
    DOI: 10.1016/j.ress.2006.03.002
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    References listed on IDEAS

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    1. Hahn, Robert W, 1989. "Economic Prescriptions for Environmental Problems: How the Patient Followed the Doctor's Orders," Journal of Economic Perspectives, American Economic Association, vol. 3(2), pages 95-114, Spring.
    2. John Ledyard & David Porter & Randii Wessen, 2000. "A Market-Based Mechanism for Allocating Space Shuttle Secondary Payload Priority," Experimental Economics, Springer;Economic Science Association, vol. 2(3), pages 173-195, March.
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