Unique transaction costs in defense market(s): the explanatory power of new institutional economics
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Authors
Driessnack, John
Subjects
Advisors
Date of Issue
2005-05-01
Date
Publisher
Monterey, CA; Naval Postgraduate School
Language
Abstract
Concerns about the US Military-Industrial complex have seemed a permanent fixture in the DoD. Initial studies outlined the uniqueness of the market, but continued utilization of classic economic approach continues with little explanatory power. This paper offers an alternative approach using transaction-costs analysis and the explanatory power of the New Institutional Economic and Public Choice School. The approach provides explanatory power in the defense markets’ mix of the invisible and visible hands at work and provides a framework for assessing viable policy alternatives that could provide increased efficiency while maintaining our principles of freedom.
Type
Report
Description
Excerpt from the Proceedings of the Second Annual Acquisition Research Symposium
Series/Report No
Department
Identifiers
NPS Report Number
NPS-AM-05-024
Sponsors
Funding
Format
18 p.
Citation
Distribution Statement
Approved for public release; distribution is unlimited.