Outer Space Resources in Efficient and Equitable Use: New Frontiers for Old Principles

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.