A regime for managing the two space resources, the physical space resources and the electromagnetic spectrum was suggested. To achieve efficiency in an international convention establishing intra- and international free trade in divisible, indefinite user rights to the complete resources should be agreed upon. A legal convention on the definition and enforcement of liability rules is also crucial for efficiency. An authority to manage space resources is needed only for those activities that interfere with a large number of other activities. The creation of an international space condominium to auction user rights to the two resources was suggested to achieve equity.
Wihlborg, Clas G., and Per Magnus Wijkman. "Outer space resources in efficient and equitable use: New frontiers for old principles." Journal of Law and Economics (1981): 23-43.
University of Chicago Press
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This article was originally published in Journal of Law and Economics in 1981.