Cover: The Economic Analysis of Defense

The Economic Analysis of Defense

Choice Without Markets

Published 1958

by Fred Hoffman

Purchase Print Copy

 Format Price
Add to Cart Paperback20 pages $15.00

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 paper series. The paper was a product of RAND 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.

This document and trademark(s) contained herein are protected by law. This representation of RAND intellectual property is provided for noncommercial use only. Unauthorized posting of this publication online is prohibited; linking directly to this product page is encouraged. Permission is required from RAND to reproduce, or reuse in another form, any of its research documents for commercial purposes. For information on reprint and reuse permissions, please visit

RAND 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.