2022_MCM_ICM_Problemss美赛赛题

ilikenba

2022 MCM Problem A: Power Profile of a Cyclist
[img]https://commons.wikimedia.org/wiki/Fileave_Zabriskie_-_USA_Pro_Time_Trial.jpg[/img]
Background
There are many types of bicycle road races including a criterium, a team time trial, and an individual time trial. A rider’s chance of success can vary for these contests depending on the type of event, the course, and the rider’s abilities. In an individual time trial, each individual cyclist is expected to ride a fixed course alone, and the winner is the rider who does so in the least amount of time.
An individual rider can produce different levels of power for different lengths of time, and the amount of power and how long a given amount of power a rider can produce varies greatly between riders. A rider’s power curve indicates how long a rider can produce a given amount of power. In other words, for a particular length of time the power curve provides the maximum power a rider can maintain for that given time. Generally, the more power a rider produces, the less time the rider can maintain that power before having to reduce the amount of power and recover. A rider may choose to briefly exceed the limits on their power curve, but the rider then requires extra time at a lower power level to recover. Moreover, a rider’s power output in the past matters, and riders are increasingly fatigued as a race progresses.
Riders are always looking to minimize the time required to cover a given distance. Given a particular rider’s capability according to that rider’s power curve, how should that rider apply power while traversing a given time trial course? Additionally, many types of riders may participate in an individual time trial, such as a time trial specialist, a climber, a sprinter, a rouleur, or a puncheur, and each type of rider has a distinct power curve.
Requirement
Develop a model that can be applied to any type of rider that determines the relationship between the rider’s position on the course and the power the rider applies. Keep in mind that the rider has a limit on the total energy that can be expended over the course, as well as limits that accumulate from past aggressiveness and for exceeding the power curve limits.
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Your model development and report should include the following:
• Define the power profiles of two types of riders. One of your riders should be a time trial specialist, and the other is a rider of a different type. You should also consider profiles of riders of different genders.
• Apply your model to various time trial courses including, at a minimum, the ones listed below for each power profile you defined above:
o 2021 Olympic Time Trial course in Tokyo, Japan,
o 2021 UCI World Championship time trial course in Flanders, Belgium,
o At least one course of your own design that includes at least four sharp turns and at least one nontrivial road grade. The end of the course should be near its start point.
• Determine the potential impact of weather conditions, including wind directions and wind strengths, to determine how sensitive your results are for small differences in the weather and environment.
• Determine how sensitive the results are to rider deviations from the target power distribution. It is unlikely that a rider can follow a highly detailed plan and will miss the power targets. The rider and the Directeur Sportif will have some idea of the possible range of expected split times at key parts of a given course.
• Discuss how to extend your model to include the optimal power use for a team time trial of six riders per team, where the team’s time is determined when the fourth rider crosses the finish line.
As part of your solution, write a two-page rider’s race guidance for a Directeur Sportif of a team. The rider’s race guidance should focus on the results for one rider and one time trial course. It should contain an overview of the directions for the rider. It should also include a broad summary of your model but be appropriate for a Directeur and rider who do not have backgrounds in mathematics.
Your PDF solution of no more than 25 total pages should include:
• One-page Summary Sheet.
• Table of Contents.
• Your complete solution.
• Two-page rider’s race guidance for a Directeur Sportif.
• Reference List.
Note: The MCM Contest has a 25-page limit. All aspects of your submission count toward the 25-page limit (Summary Sheet, Table of Contents, Reference List, and any Appendices). You must cite the sources for your ideas, images, and any other materials used in your report.
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Glossary
Criterium: a bicycle race that takes place on a closed course. The length can be specified by a fixed number of laps or the most laps in a predetermined time period.
Directeur Sportif: a team’s director who is responsible for managing the riders and staff, making race decisions, and deciding the team composition for a given race.
Individual Time Trial: an event in which riders traverse a predetermined course one at a time. The riders are not allowed to work together or ride near one another. The time required to traverse the course is recorded for each rider. The lower the time the better the rider’s final placement.
Power Curve: is a visual representation of the maximum power a rider can maintain for a particular length of time.
Glossary of Rider Types
Climber: a rider that specializes in races that have multiple long climbs.
Puncheur: a rider that specializes in races that include many short, steep climbs or many sharp accelerations.
Rouleur: a rider that is a generalist and can do well in races with a wide variety of terrains.
Sprinter: a rider that specializes in producing extremely high power for short periods of time. These riders generally focus on winning at the end of a race or during the intermediate sprints (if a race has intermediate sprints).
Time Trial Specialist: a rider that specializes in the individual time trial events.

2022 MCM
Problem B: Water and Hydroelectric Power Sharing
Background
For centuries, people have constructed dams across rivers and streams to hold back water to create reservoirs as a means of managing water supplies. These reservoirs store water for a variety of uses (e.g., agriculture, industry, residential), provide an area for leisure and recreation (e.g., fishing, boating), assist in preventing downstream flooding, and feed water to turbines that generate electricity. Hydroelectric power (hydropower) is electricity produced by these turbines as they convert the potential energy of falling or fast-flowing water into mechanical energy.
With climate change, the volume of water from sources feeding dams and reservoirs is decreasing in many areas. Consequently, dams may not be able to meet the demands for water in these areas. Additionally, low water flow decreases the amount of electricity generated from hydroelectric plants resulting in disruptions of the power supply in these areas. If the water level in the reservoir behind the dam is low enough, hydroelectric power generation stops.
Natural resource officials in the U.S. states of Arizona (AZ), California (CA), Wyoming (WY), New Mexico (NM), and Colorado (CO) are currently negotiating to determine the best way to manage water usage and electricity production at the Glen Canyon and Hoover dams to address these competing interests. Hundreds of years of previous agreements continue to impact current water management regulations, policies, and practices today. The agreements allocate more water from the Colorado River system than is present in the system. It is likely that the system continues to work because some users do not take their full allocations. If drought conditions continue in the Colorado River basin, the water volume at some point will be insufficient to meet the basic water and generated electricity needs of stakeholders. Consequently, a rational, defensible water allocation plan for current and future water supply conditions is critically important.
Additional Guidance
State natural resources negotiators have asked your team to develop a water allocation plan in their five states (AZ, CA, WY, NM, and CO). These officials assume that recent rainfall shortages and hotter temperatures will persist, causing problems with both supply (water availability) and demand (electricity requirements). They provided the following guidance:
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• The operations of the Glen Canyon dam (Lake Powell) and the Hoover dam (Lake Mead) should be closely coordinated because water outflows from the Glen Canyon dam supply part of the water input to the Hoover dam.
• The challenge presented by this series configuration of two dams is to determine a suitable allocation of water and electricity to agriculture, industry, and residences in the five states.
• Your solution should address what water flows should be taken from the Glen Canyon and Hoover dams when the demands of the communities of interest are at stated levels and the water in the two reservoirs is at stated height (respecting the relationship between water height in the reservoirs and the volume of water in the reservoirs). Recommend how often the model should be re-run to take into account changes in the supply and demand profiles.
• Mexico has claims on the residual water left after the five states have consumed their shares. Your plan should address Mexico’s rights.
• After water allocations from your plan are implemented, discuss how much water (if any) should be allowed to flow into the Gulf of California from the Colorado River?
Requirements
In developing your water allocation plan according to the negotiators’ guidance, you should:
• Develop and analyze a mathematical model that will assist negotiators to respond to a fixed set of water supply and demand conditions. Use the model to inform dam operations: When the water level in Lake Mead is M and the water level in Lake Powell is P, how much water should be drawn from each lake to meet stated demands? If no additional water is supplied (from rainfall, etc.), and considering the demands as fixed, how long will it take before the demands are not met? How much additional water must be supplied over time to ensure that these fixed demands are met?
• Use your model to recommend the best means to resolve the competing interests of water availability for general (agricultural, industrial, residential) usage and electricity production. Explicitly state the criteria you are using to resolve competing interests.
• Use your model to address what should be done if there is not enough water to meet all water and electricity demands.
• What does your model indicate under the following conditions?
o The demands for water and electricity in the communities of interest change over time. What happens when there is population, agricultural, and industrial growth or shrinkage in the affected areas?
o The proportion of renewable energy technologies increases over the initial value used in your analysis.
o Additional water and electricity conservation measures are implemented.
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Your solution should not utilize or rely on any existing historical agreements or current political powers of organizations or persons in these states but represent your team’s best mathematical solution for the allocation of water in this region.
As part of your solution submission, prepare a one- to two-page article of your findings suitable for publication in Drought and Thirst magazine, a monthly publication for water infrastructure managers in the American Southwest.
Your PDF solution of no more than 25 total pages should include:
• One-page Summary Sheet.
• Table of Contents.
• Your complete solution.
• One- to two-page Article for Drought and Thirst magazine.
• Reference List.
Note: The MCM has a 25-page limit. All aspects of your submission count toward the 25-page limit (Summary Sheet, Table of Contents, Reference List, and any Appendices). You must cite the sources for your ideas, images, and any other materials used in your report.
Glossary
Hydroelectric power (hydropower): electricity produced by turbines that convert the potential energy of falling or fast-flowing water into mechanical energy.


Problem C: Trading Strategies
Background
Market traders buy and sell volatile assets frequently, with a goal to maximize their total return. There is usually a commission for each purchase and sale. Two such assets are gold and bitcoin.
Figure 1: Gold daily prices, U.S. dollars per troy ounce. Source: London Bullion Market Association, 9/11/2021
Figure 2: Bitcoin daily prices, U.S. dollars per bitcoin. Source: NASDAQ, 9/11/2021
Requirement
You have been asked by a trader to develop a model that uses only the past stream of daily prices to date to determine each day if the trader should buy, hold, or sell their assets in their portfolio.
You will start with $1000 on 9/11/2016. You will use the five-year trading period, from 9/11/2016 to 9/10/2021. On each trading day, the trader will have a portfolio consisting of cash, gold, and bitcoin [C, G, B] in U.S. dollars, troy ounces, and bitcoins, respectively. The initial state is [1000, 0, 0]. The commission for each transaction (purchase or sale) costs α% of the amount traded. Assume αgold = 1% and αbitcoin = 2%. There is no cost to hold an asset.
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Note that bitcoin can be traded every day, but gold is only traded on days the market is open, as reflected in the pricing data files LBMA-GOLD.csv and BCHAIN-MKPRU.csv. Your model should account for this trading schedule.
To develop your model, you may only use the data in the two spreadsheets provided: LBMA-GOLD.csv and BCHAIN-MKPRU.csv.
• Develop a model that gives the best daily trading strategy based only on price data up to that day. How much is the initial $1000 investment worth on 9/10/2021 using your model and strategy?
• Present evidence that your model provides the best strategy.
• Determine how sensitive the strategy is to transaction costs. How do transaction costs affect the strategy and results?
• Communicate your strategy, model, and results to the trader in a memorandum of at most two pages.
Your PDF solution of no more than 25 total pages should include:
• One-page Summary Sheet.
• Table of Contents.
• Your complete solution.
• One- to two-page Memorandum.
• Reference List.
Note: The MCM has a 25-page limit. All aspects of your submission count toward the 25-page limit (Summary Sheet, Table of Contents, Reference List, and any Appendices). You must cite the sources for your ideas, images, and any other materials used in your report.
Attachments
THE TWO DATA FILES PROVIDED CONTAIN THE ONLY DATA YOU SHOULD USE FOR THIS PROBLEM.
1. LBMA-GOLD.csv
2. BCHAIN-MKPRU.csv
Data Descriptions
1. LBMA-GOLD.csv
- Date: The date in mm-dd-yyyy (month-day-year) format.
- USD (PM): The closing price of a troy ounce of gold in U.S. dollars on the indicated date.
2. BCHAIN-MKPRU.csv
- Date: The date in mm-dd-yyyy (month-day-year) format.
- Value: The price in U.S. dollars of a single bitcoin on the indicated date.

Problem D: Data Paralysis? Use Our Analysis!
Background
Many companies view data as a strategic asset but acknowledge great difficulty deriving value from this asset. Proper management of this precious resource can lead to a competitive advantage. Thus, companies need to establish an integrated data and analytics (D&A) system, where they can guarantee that they have the right people, technologies, and processes in place to manage, manipulate, use, and protect this resource.
Your consulting team develops models that evaluate D&A systems to help company executives make the right decisions pertaining to three key components: people, technologies, and processes. When it comes to D&A, your models provide companies with the ability to measure the D&A system maturity through examination of these three key components. To maximize the potential of their data assets, companies want highly skilled people, relevant technologies, mature processes, and a strong connection between all three components. Your models help companies assess their current state and provide insight into the system changes needed to maximize the potential of their D&A system. Companies use your model(s) to optimize their analytic capabilities, obtain a competitive advantage, and give customers confidence in the company’s ability to manage data.
Intercontinental Cargo Moving (ICM) Corporation operates a large seaport and has hired your team. ICM Corporation wants you to measure the maturity of their current D&A system and provide a solid plan to optimize their D&A capabilities. Using your model, ICM Corporation hopes to instill customer trust and confidence in their data practices.
Requirements
Due to company regulations, ICM Corporation is unable to share specifics about their people, technologies, processes, or data with your team. However, a general description of ICM Corporation’s operations and the types of data that they deal with on a regular basis is included below on page 3. Develop a model to evaluate the D&A system of ICM Corporation. Your model development and report should include the following:
●A metric to measure the current D&A system maturity level for ICM Corporation.Include key performance indicators that measure the success of their D&A people,technologies, and processes.
●After ICM Corporation uses your model to determine their current D&A maturity level,demonstrate how they could use your model to recommend changes to the systemallowing the company to maximize the potential of their data assets.
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● Suggest protocols that ICM should put in place to measure the effectiveness of their D&A system.
● Demonstrate how your model might be applied to a larger or smaller seaport. Analyze how your system maturity metric could be adapted to other industries. Specifically, could a trucking company use your maturity metric? If customers of ICM Corporation, like a trucking company, also used your metric, how could this benefit ICM Corporation?
Ultimately, the ICM Corporation cares about customer satisfaction and confidence. Write a one-page letter to ICM Corporation’s customers (the port users) outlining your proposed methods of measurement and instilling confidence in ICM Corporation’s D&A system.
Your PDF solution of no more than 25 total pages should include:
• One-page Summary Sheet.
• Table of Contents.
• Your complete solution.
• One-page letter to ICM Corporation’s customers (port users).
• Reference List.
Note: The ICM Contest has a 25-page limit. All aspects of your submission count toward the 25-page limit (Summary Sheet, Table of Contents, Reference List, and any Appendices). You must cite the sources for your ideas, images, and any other materials used in your report.
Glossary
Data and analytics (D&A) system: a complex interconnected system of people, technologies, and processes used to manage data and analytics.
Key performance indicators: a measurement of business performance to understand progress towards an intended goal.
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A Brief Overview of ICM Corporation’s Operations and Data
ICM Corporation’s customers include those companies whose employees use the port. When a cargo ship pulls into the port, ICM Corporation offloads containers from the ship, moves the containers through customs, places the containers in the appropriate storage location, and then transfers the containers to trucks and freight trains for inland transport. Containers also arrive at the port on trucks and freight trains where ICM Corporation must off-load, store, and load those containers onto the ships for shipment by sea. This movement of cargo generates a significant amount of data including ship arrival/departure times, cargo manifests, shipping container inventories, customs inspection reports, container location within the port, and inland transport arrival/departure manifests and schedules. An effective D&A system ensures this process is efficient so that the time a ship, truck, or train spends at the port is minimized. ICM Corporation hopes your model will help them 1) optimize their D&A system (people, technologies, processes) in the management of this data and 2) project D&A competence to instill confidence and attract additional business for the port (i.e., increase number of port users).
ICM Corporation’s management team has concerns about each component of the D&A system, as well as their ability to work together as an integrated system:
People – Hiring managers at ICM Corporation need to know if they have the right D&A talent. They also need innovative ways to obtain D&A talent. The hiring managers have many questions when it comes to D&A talent: How do we assess our current D&A talent? How do we identify our talent shortfalls? Who should we hire? What skills should they have? How many individuals should we hire? Where should we look for D&A talent? Should we consider contracting instead of hiring? Should we look to train our current workforce to be more data-savvy? Should we look at a combination of hiring, contracting, and training our D&A talent?
Technology – The Information Technology (IT) department at ICM Corporation knows that selecting a data analytics technical solution is complicated. They also know that technology & software solutions will change over time. The IT department does not want you to tell them which software solution is best today but hopes your model will provide them with a way to measure the effectiveness of technology solutions now and in the future. They care more about the framework in which they should be selecting software or other technology options than in specific tools available now. The IT department has many questions: What types of technology do we need? Do we need a single product or a set of products? How do we differentiate one product from the other? Which product attributes are most important?
Process – The Information Security Officer (ISO) at ICM Corporation is concerned about the D&A processes that are in place to protect and manage the data. He knows that ICM Corporation needs a good data governance program. A good governance program provides oversight of the data resources, tracks and approves access and changes to data, and provides metadata consistency across the organization. As the business has grown, independent data processes have created inconsistencies between the port operations, transportation schedules, customs inspections, and container storage. Additionally, the ISO recognizes the need to catalog and aggregate the data across all facets of the business as well as develop a process to manage the data throughout its entire lifecycle. Data governance is new to ICM Corporation, so the ISO is unsure of what questions he should ask.
Glossary
Data governance: a process to oversee the quality, access, and use of data in an organization.
Metadata: data that provides information about other data. It is often a description of the data and its content.


Problem E: Forestry for Carbon Sequestration
Background
Climate change presents a massive threat to life as we know it. To mitigate the effects of climate change, we need to take drastic action to reduce the amount of greenhouse gases in the atmosphere. Simply reducing greenhouse gas emissions is not enough. We need to make efforts to enhance our stocks of carbon dioxide sequestered out of the atmosphere by the biosphere or by mechanical means. This process is called carbon sequestration. The biosphere sequesters carbon dioxide in plants (especially large plants like trees), soils, and water environments. Thus, forests are integral to any climate change mitigation effort.
Forests sequester carbon dioxide in living plants and in the products created from their trees including furniture, lumber, plywood, paper, and other wood products. These forest products sequester carbon dioxide for their lifespan. Some products have a short lifespan, while others have a lifespan that may exceed that of the trees from which they are produced. The carbon sequestered in some forest products combined with the carbon sequestered because of the regrowth of younger forests has the potential to allow for more carbon sequestration over time when compared to the carbon sequestration benefits of not cutting forests at all.
At the global level, forest management strategies that include appropriate harvesting can be beneficial for carbon sequestration. However, overharvesting can limit carbon sequestration. Forest managers must find a balance between the value of forest products derived from harvesting and the value of allowing the forest to continue growing and sequestering carbon as living trees. In doing so, they must consider many factors such as age and types of trees, geography, topography, and benefits and lifespan of forest products.
The concerns of forest managers are not limited to carbon sequestration and forest products. They must make forest management decisions based on the many ways their forest is valued. These may include, but are not limited to, potential carbon sequestration, conservation and biodiversity aspects, recreational uses, and cultural considerations.
Requirements
The International Carbon Management (ICM) Collaboration has been formed to develop guidance for forest managers around the world trying to figure out how to utilize and manage their forests. One-size-fits-all guidance is simply not possible as the make-up of forests, climates, populations, interests, and values vary widely around the world.
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• Develop a carbon sequestration model to determine how much carbon dioxide a forest and its products can be expected to sequester over time. Your model should determine what forest management plan is most effective at sequestering carbon dioxide.
• The forest management plan that is best for carbon sequestration is not necessarily the one that is best for society given the other ways that forests are valued. Develop a decision model to inform forest managers of the best use of a forest. Your model should determine a forest management plan that balances the various ways that forests are valued (including carbon sequestration).
To better understand your model, consider some of the following questions, as well as questions of your own:
* What is the spectrum of management plans that your decision model may suggest?
* Are there any conditions which would result in a forest that should be left uncut?
* Are there transition points between management plans that apply to all forests?
* How are characteristics about a specific forest and its location used to determine transition points between management plans?
• Apply your models to various forests. Identify a forest that your decision model would suggest the inclusion of harvesting in its management plan.
• How much carbon dioxide will this forest and its products sequester over 100 years?
• What forest management plan should be used for this forest? Why is this the best approach?
• Suppose the best management plan includes a time between harvests that is 10 years longer than current practices in the forest. Discuss a strategy for transitioning from the existing timeline to the new timeline in a way that is sensitive to the needs of forest managers and all who use the forest.
• Some people believe we should never cut down any trees and yet you identified a forest that should include harvesting in its management plan. Write a one- to two-page non-technical newspaper article explaining why your analysis identified including harvesting in the management of this forest rather than it being left untouched. Ultimately, your article should convince the local community that this is the best decision for their forest.
Your PDF solution of no more than 25 total pages should include:
• One-page Summary Sheet.
• Table of Contents.
• Your complete solution.
• One- to two-page newspaper article.
• Reference List.
Note: The ICM Contest has a 25-page limit. All aspects of your submission count toward the 25-page limit (Summary Sheet, Table of Contents, Reference List, and any Appendices). You must cite the sources for your ideas, images, and any other materials used in your report.
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Glossary
Biosphere: parts of Earth where you can find life.
Carbon Sequestration: the process of capturing and storing carbon dioxide from the atmosphere.
Forest Manager: an entity that controls and manages a forest and makes decisions about how it will be used. The Forest Manager may be an individual, government, corporation, or other public or private organization.
Forest Products: materials made from harvested wood, including, for example, furniture, lumber, plywood, paper, and wood pellets.
Greenhouse Gases: gases in the atmosphere that trap heat and warm the planet. Examples of these gases include carbon dioxide, water vapor, methane, and nitrous oxide.
Harvesting (trees): the process of cutting down trees to be used as forest products.
Forest Management: the process of managing a forest to include determining what trees should be cut down, which trees should be left standing, a timeline for harvesting the trees, and how to regenerate the forest.


Problem F: All for One and One (Space) for All!
Background
Most of the world’s nations signed onto the United Nations’ Outer Space Treaty of 1967, agreeing that “exploration and use of outer space, including the moon and other celestial bodies, shall be carried out for the benefit and in the interests of all countries, irrespective of their degree of economic or scientific development, and shall be the province of all mankind”[1]. The United Nations (UN) aims to promote global peace and reduce inequities. As the foundation of international space law, the Outer Space Treaty has provided the legal underpinnings for projects that have promoted multinational access to space, such as the International Space Station and the use of satellites to browse the Internet in even the most remote locations. But will this international promise of equity hold as humankind looks to harvesting space-based resources?
Consider the possibility of asteroid mining. There are many open questions about asteroid mining, such as whether it is technically feasible, whether the high initial cost is worth the benefit of what we might find and bring back to Earth, and whether it should be private companies, national governments, or international collaborations that fund these operations, do the mining, and/or receive the financial gains. These questions have yet to be answered, but for the purposes of this problem, let’s assume that asteroid mining is feasible at some point in the future and could allow humans to bring valuable minerals back to Earth relatively safely and at a cost that is financially worth the investment.
This problem asks your team to address the following overarching questions: What is global equity, and how will asteroid mining impact it? What are the factors that influence that impact, and how? And what policies could the United Nations propose to increase global equity in a future with asteroid mining?
Requirements
Specifically, to address the above questions, your team should consider the following guiding questions:
● What is global equity, and how might we measure it? In other words, develop a definition of global equity. Use your definition to develop a model (e.g., tool, metric) that allows you to measure global equity. Validate your model; this might involve historical and/or regional analyses.
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● What might asteroid mining look like in the future, and how might asteroid mining impact global equity? One of the challenges in answering this question is that we don’t know what the asteroid mining sector will look like in the future; in other words, there are unknown conditions including, but not limited to, who is doing the mining, how it is funded, or who will get the benefits in terms of the minerals themselves or the profits from the sales of those minerals. Present, describe, and justify one likely vision for the future of asteroid mining, and determine the impact of mining on global equity with an analysis that includes the use of your team’s global equity model.
● How do changes in the conditions that you selected in defining a vision for the future of asteroid mining impact global equity? To do this, you may need to develop and implement an analytical approach to explore how changes in the asteroid mining sector could impact global equity differently.
● What policies could be implemented to encourage the asteroid mining sector to advance in a way that promotes more global equity? Suppose the UN is considering updating its Outer Space Treaty to specifically address asteroid mining and ensure its benefit to all humankind. Use the results of your analyses to make justified policy recommendations so that the asteroid mining might truly benefit all humankind.
Your PDF solution of no more than 25 total pages should include:
• One-page Summary Sheet.
• Table of Contents.
• Your complete solution.
• Reference List.
Note: The ICM Contest has a 25-page limit. All aspects of your submission count toward the 25-page limit (Summary Sheet, Table of Contents, Reference List, and any Appendices). You must cite the sources for your ideas, images, and any other materials used in your report.
References
[1] The Treaty on Principles Governing the Activities of States in the Exploration and Use of Outer Space, including the Moon and other Celestial Bodies, of 27 January 1967, United Nations RES 2222 (XXI).
Glossary
Asteroid mining: the process of extracting minerals from asteroids for human use.
Equity: the quality of being fair. Unlike equality which promotes providing identical inputs (e.g., resources and opportunities), equity focuses on allocating those resources and opportunities in a way that supports a goal of similar outcomes.

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