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

Seth Guikema

Reliability Engineering and System Safety, 2007, vol. 92, issue 5, 653-659

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.

Keywords: Market mechanism; Engineering design; Resource trading; Technical failure risk (search for similar items in EconPapers)
Date: 2007
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Persistent link: https://EconPapers.repec.org/RePEc:eee:reensy:v:92:y:2007:i:5:p:653-659

DOI: 10.1016/j.ress.2006.03.002

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