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- catalog abstract ""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. In their discussion of the framework, the authors suggest that age may contribute to higher and less-predictable costs, as may workforce reductions, depot closures, and spare parts shortages. But when is it time to replace aircraft? The replacement problem lends itself well to economic modeling, and an economic framework can help the military develop a systematic approach to replacement decisionmaking. The authors identify an optimal replacement strategy for a generic fleet, comparing the least-cost solutions with and without uncertainty and testing the sensitivity of the results to key parametric assumptions. They also evaluate policy implications and suggest opportunities for future research."--Rand abstracts.".
- catalog contributor b12522112.
- catalog contributor b12522113.
- catalog contributor b12522114.
- catalog contributor b12522115.
- catalog contributor b12522116.
- catalog coverage "United States Armed Forces Operational readiness Evaluation.".
- catalog created "2002.".
- catalog date "2002".
- catalog date "2002.".
- catalog dateCopyrighted "2002.".
- catalog description ""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. In their discussion of the framework, the authors suggest that age may contribute to higher and less-predictable costs, as may workforce reductions, depot closures, and spare parts shortages. But when is it time to replace aircraft? The replacement problem lends itself well to economic modeling, and an economic framework can help the military develop a systematic approach to replacement decisionmaking. The authors identify an optimal replacement strategy for a generic fleet, comparing the least-cost solutions with and without uncertainty and testing the sensitivity of the results to key parametric assumptions. They also evaluate policy implications and suggest opportunities for future research."--Rand abstracts.".
- catalog description "1. Introduction -- 2. Literature Review -- 3. Deterministic Model -- 4. Stochastic Model -- 5. Policy Implications and Future Research -- App. A. Solution Methodology -- App. B. Interest Rate Sensitivity.".
- catalog description "Includes bibliographical references (pages 41-43).".
- catalog description "Sponsored by the United States Air Force. F49642-01-C-0003".
- catalog extent "43 p ;".
- catalog identifier "0833031228".
- catalog issued "2002".
- catalog issued "2002.".
- catalog language "eng".
- catalog publisher "Santa Monica, Calif. : Rand,".
- catalog spatial "United States Armed Forces Operational readiness Evaluation.".
- catalog spatial "United States".
- catalog subject "338.47623746 21".
- catalog subject "Airplanes, Military United States Costs.".
- catalog subject "Airplanes, Military United States Maintenance and repair Costs.".
- catalog subject "HC79.D4 G8 2002".
- catalog subject "United States. Air Force Appropriations and expenditures Evaluation.".
- catalog subject "United States. Air Force Appropriations and expenditures.".
- catalog subject "United States. Air Force Procurement.".
- catalog tableOfContents "1. Introduction -- 2. Literature Review -- 3. Deterministic Model -- 4. Stochastic Model -- 5. Policy Implications and Future Research -- App. A. Solution Methodology -- App. B. Interest Rate Sensitivity.".
- catalog title "An economic framework for evaluating military aircraft replacement / Victoria A. Greenfield and David Persselin.".
- catalog type "text".