The Economic Analysis of Defense

Choice Without Markets

by Fred Hoffman

Purchase Print Copy

 FormatList Price Price
Add to Cart Paperback20 pages $15.00 $12.00 20% Web Discount

The application of some of the more general concepts and propositions of economic theory to military decisionmaking, with particular attention given to the allocation of scarce resources for research among competing uses. Research on defense problems must be carefully defined by the construction of a preference ordering, a knowledge-getting process to discover more about alternatives. In turn, this knowledge suggests new objectives and instrumentalities to make a preference ordering possible in the face of inherent uncertainties. Objectives of this research must be appropriately modest by measuring our desire for ever better decisions against the limited resources available to improve these decisions.

This report is part of the RAND Corporation Paper series. The paper was a product of the RAND Corporation from 1948 to 2003 that captured speeches, memorials, and derivative research, usually prepared on authors' own time and meant to be the scholarly or scientific contribution of individual authors to their professional fields. Papers were less formal than reports and did not require rigorous peer review.

Our mission to help improve policy and decisionmaking through research and analysis is enabled through our core values of quality and objectivity and our unwavering commitment to the highest level of integrity and ethical behavior. To help ensure our research and analysis are rigorous, objective, and nonpartisan, we subject our research publications to a robust and exacting quality-assurance process; avoid both the appearance and reality of financial and other conflicts of interest through staff training, project screening, and a policy of mandatory disclosure; and pursue transparency in our research engagements through our commitment to the open publication of our research findings and recommendations, disclosure of the source of funding of published research, and policies to ensure intellectual independence. For more information, visit www.rand.org/about/principles.

The RAND Corporation is a nonprofit institution that helps improve policy and decisionmaking through research and analysis. RAND's publications do not necessarily reflect the opinions of its research clients and sponsors.