Developing Improved Deflators for Defense Research and Development.
RAND CORP SANTA MONICA CA
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The study summarized in this report resulted from discussions in 1991 between the then-Director of Defense Research and Engineering, Charles Herzfeld, and the author. The issue raised in those discussions was whether inflation in multiyear defense research and development R and D programs can generally be expected to be higher or lower than that associated with the economys general price level. This report considers both the theory and practice of allowing for prospective inflation in multiyear defense research and development programs. The work summarized here reviews and analyzes current and prior methods of deflating out-year R and D spending in the United States and, more briefly, in the United Kingdom and Japan and in two high-technology firms in the U.S. private sector.
- Economics and Cost Analysis
- Administration and Management