An exploration of market mechanisms to the wicked problem of space debris

Abstract Near‐earth orbits are becoming congested because of a rapid growth in the number of satellites and space debris, which presents a real threat to the sustainable use of space and the safety of the Earth. Despite space scientists and public policymakers having been actively seeking solutions for decades, solving the problem has been put off because of its “wicked” nature. Adopting the lens of the public policy analyst, this research traces the aggravation of the space debris problem, surveys space debris‐mitigation techniques and the existing international and national policy framework for addressing the problem, and analyzes the causes of policy inertia. Market mechanisms (as compared with administrative mechanisms), such as franchise, cap‐and‐trade, liability insurance, as well as corporate social responsibilities, which are made possible due to the prosperity of the commercial space industry in recent years, are explored and their respective impacts are discussed.