eBook - PDF

Defence Acquisition and Procurement

Name: Defence Acquisition and Procurement
ISBN: 9781009195379

How (Not) to Buy Weapons

Ron P. Smith,

English
PDF
Available on iOS & Android

eBook - PDF

Defence Acquisition and Procurement

How (Not) to Buy Weapons

Ron P. Smith,

About this book

The acquisition and procurement of major weapons systems is fraught with difficulties. They tend to be delivered late, over budget and unable to meet requirements. This Element provides an economic analysis of why this happens. Market structure, demand by the military and supply by the arms firms, shapes the conduct of the agents and generates the poor performance observed. The military are trying to counter an evolving threat, subject to a budget constraint, high R&D costs and new technologies. The interaction between a government made up of warring tribes and arms firms with considerable market and political power is further complicated by a set of what economists call 'principal-agent' problems, which are examined. While the poor performance has prompted many countries to propose reforms, the difficulty of the task and the institutional incentives faced by the actors mean that the reforms rarely solve the problem.

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Yes, you can access Defence Acquisition and Procurement by Ron P. Smith in PDF and/or ePUB format, as well as other popular books in Economics & Economic Theory. We have over one million books available in our catalogue for you to explore.