An Economic Framework for Evaluating Military

Aging aircraft, burdensome operating and support costs, and maintenance uncertainties have led the United States Air Force to ask when and how to replace its fleets. In response, RAND has developed an economic framework to aid in identifying optimal replacement strategies that recognize tradeoffs among costs and explicitly incorporate the effects of age and uncertainty.

Preface	p. iii
Figures	p. vii
Tables	p. ix
Summary	p. xi
Acknowledgments	p. xiii
Introduction	p. 1
Literature Review	p. 3
Deterministic Model	p. 8
Stochastic Model	p. 14
Policy Implications and Future Research	p. 29
Solution Methodology	p. 31
Interest Rate Sensitivity	p. 38
References	p. 41
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An Economic Framework for Evaluating Military Aircraft Replacement

Summary

Table of Contents

Supplemental Materials