Military Cost-Benefit Analysis

Binyam Solomon, Francois Melese, Anke Richter

"This is the first comprehensive book on Military Cost-Benefit Analysis and provides novel approaches to structuring cost-benefit and affordability analysis amidst an uncertain defense environment and cloudy fiscal prospects. Lifting the veil on military Cost-Benefit Analysis, this volume offers several new practical tools designed to guide defense investments (and divestments), combined with a selection of real-world applications. The widespread employment of Cost-Benefit Analysis offers a unique opportunity to transform legacy defense forces into efficient, effective, and accountable 21st century organizations. A synthesis of economics, statistics and decision theory, CBA is currently used in a wide range of defense applications in countries around the world: i) to shape national security strategy, ii) to set acquisition policy, and iii) to inform critical investments in people,...