| Srl | Item |
| 1 |
ID:
190103
|
|
|
|
|
| Summary/Abstract |
This article addresses the problem that societies face for properly allocating resources to grant security to their members. It examines the methods and ways for setting and distributing these resources to obtain enough military capabilities to face threats. The problem: the choice of an allocation that optimizes social welfare is an old and constant concern for public policies. The main novelty of this article is to explore this problem from the bounded rationality of human beings, i.e. choices made under imperfect information, preferences unsupported by economic rationality or the constrained effectiveness of non-market arrangements for deciding adequately. These issues may drive to allocations that do not obtain the largest welfare.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2 |
ID:
174612
|
|
|
|
|
| Summary/Abstract |
The First Fundamental Theorem of Welfare Economics states that, under certain conditions, markets are able to supply goods and services in a way that is Pareto efficient. However, these stringent conditions are not satisfied in practice, giving way to the inefficient allocation of resources by market agents for such supply and a welfare loss. This article describes the reasons that impede the fulfilment of such conditions in the defence industrial market and the impact of such fact in the allocation process. It also discusses interventions and arrangements for palliating these market failures and for increasing the overall allocational efficiency.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 3 |
ID:
158447
|
|
|
|
|
| Summary/Abstract |
This article surveys the body of available evidence regarding the spill-over effects of defence R&D. It reviews the routes through which defence R&D spills over to the economy with positive externalities – in terms of new products, technologies or processes; the barriers that impede or block such a process; potential negative repercussions, and the measure of such effects. The main conclusion is that the uncertainty of these effects, and the inaccurate appraisal of their value, hardly supports informed decisions concerning defence R&D policies.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|