A Brave Leap Or A Gradual Climb? The Dynamics Of Investment In R&D Of Integrative Technologies
AbstractOur paper explores the optimal investment in integrative technologies (such as command and control systems), which are a major part of defense R&D at the beginning of the 21st century. Employing a dynamic optimization framework, we find that under linear development costs, it may be optimal or nearly optimal to build military forces using a myopic, short-termed, approach. In such cases, it would be optimal to transform an armed force into a network-centric environment within just a few years. When development costs are convex however, early investment in technological infrastructure is required, extending the transformation period over more than a decade.
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Bibliographic InfoArticle provided by Taylor and Francis Journals in its journal Defence and Peace Economics.
Volume (Year): 17 (2006)
Issue (Month): 3 ()
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