An Economic Framework for Evaluating Military Aircraft Replacement

by Victoria A. Greenfield

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.

45 pages, Paperback

First published April 12, 2002

About the author

Victoria Greenfield is a senior economist at RAND and a faculty affiliate with the Department of Criminology, Law and Society at George Mason University. She specializes in national security, transnational crime, and international socio-economic issues, advising government agencies on strategy and organizational design. Known for her interdisciplinary approach, she coauthored Assessing the Harms of Crime: A New Framework for Criminal Policy, published by Oxford University Press. Her work also covers topics such as human and drug trafficking, cyber risks to supply chains, and military economic metrics. Greenfield has held prominent roles at the U.S. Department of State, the President’s Council of Economic Advisers, and the U.S. Naval Academy, and she has contributed to multiple National Academies committees. She earned her Ph.D. in agricultural and resource economics from UC Berkeley.