UK defence inflation and cost escalation

Keith Hartley

Defence and Peace Economics, 2016, vol. 27, issue 2, 184-207

Abstract: 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.

Date: 2016
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DOI: 10.1080/10242694.2015.1093757

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