| ID | 144153 |
| Title Proper | UK defence inflation and cost escalation |
| Language | ENG |
| Author | Hartley, Keith |
| Summary / Abstract (Note) | The UK experience with defence inflation and cost escalation is described and analysed. Evidence is presented and policy solutions are reviewed. Optimism bias is a source of cost escalation and this bias is analysed with game theory and public choice models. The key facts remain, namely, that defence inflation exceeds the GDP deflator, and despite various reforms, cost escalation continues. |
| `In' analytical Note | Defence and Peace Economics Vol. 27, No.2; Apr 2016: p.184-207 |
| Journal Source | Defence and Peace Economics Vol: 27 No 2 |
| Key Words | Cost Escalation ; Defence Inflation ; Contracting ; Optimism Bias |