EconPapers    
Economics at your fingertips  
 

A Market-Based Mechanism for Allocating Space Shuttle Secondary Payload Priority

John Ledyard, David Porter and Randii Wessen

Experimental Economics, 2000, vol. 2, issue 3, 173-195

Abstract: This is an investigation into the design of a market-based process to replace NASA's current committee process for allocating Shuttle secondary payload resources (lockers, Watts and crew). The market-based process allocates budgets of tokens to NASA internal organizations that in turn use the budget to bid for priority for their middeck payloads. The scheduling algorithm selects payloads by priority class and maximizes the number of tokens bid to determine a manifest. The results of a number of controlled experiments show that such a system tends to allocate resources more efficiently by guiding participants to make resource and payload tradeoffs. Most participants were able to improve their position over NASA's current ranking system. Furthermore, those that are better off make large improvements while the few that do worse have relatively small losses. Copyright Kluwer Academic Publishers 2000

Keywords: mechanism design; auctions; scheduling (search for similar items in EconPapers)
Date: 2000
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (11) Track citations by RSS feed

Downloads: (external link)
http://hdl.handle.net/10.1023/A:1009900310537 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:kap:expeco:v:2:y:2000:i:3:p:173-195

Ordering information: This journal article can be ordered from
http://www.springer. ... ry/journal/10683/PS2

DOI: 10.1023/A:1009900310537

Access Statistics for this article

Experimental Economics is currently edited by David J. Cooper, Lata Gangadharan and Charles N. Noussair

More articles in Experimental Economics from Springer, Economic Science Association Contact information at EDIRC.
Bibliographic data for series maintained by Sonal Shukla ().

 
Page updated 2020-04-24
Handle: RePEc:kap:expeco:v:2:y:2000:i:3:p:173-195