Launch vouchers for space science research

Recent national space policy proposes the use of space transportation vouchers to increase opportunities for space-based science research and to support the U.S. space transportation industry. Vouchers issued and financially backed by the government would be given to researchers for redemption on any mode of space transportation. This paper examines the economic costs and benefits of vouchers; incentive-based strategies for effective program design; and areas where the voucher scheme is weak. It is concluded that, under plausible assumptions, vouchers may well be a cost-effective way to achieve near-term space transportation for space research payloads.