Modeling the Departure of Military Pilots from the Service
Modeling the Departure of Military Pilots from the Service

Author: Marc N. Elliott

Publisher: Rand Corporation

Published: 2004

Total Pages: 70

ISBN-13: 9780833029768

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High numbers of voluntary departures from the services by military pilots have periodically caused considerable concern among military administrators and policymakers, both recently and in previous periods of high attrition. In this study, the authors explore some determinants of the fixed-wing (airplane) pilot attrition problem among male pilots in the Air Force, Navy, and Marine Corps, and the responsiveness of attrition to changes in military compensation. The authors estimated a pilot attrition model that examines the impact on attrition from factors such as compensation, civilian airline hiring, and deployment. This study produced several noteworthy findings, including: (1) Increases in major airline hiring tend to increase military pilot voluntary departures to a great degree in the Air Force and to a lesser extent in the Navy; (2) although attrition was found to be quite responsive to bonus pay, counteracting a sizable increase in major airline hiring could be costly, particularly for the Air Force; (3) the significant Impact of civilian major airline hiring on pilot attrition calls for a pilot management plan that will enable the armed forces to respond to strong outside in

Handbook of Defense Economics
Handbook of Defense Economics

Author: Keith Hartley

Publisher: Elsevier

Published: 1995

Total Pages: 699

ISBN-13: 0444519106

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This handbook examines the state of defence economics, covering theoretical analysis, econometric techniques and policy issues. The chapters fall into two categories - surveys and conceptual studies.

U.S. Military Service
U.S. Military Service

Author: Cynthia A. Watson

Publisher: Bloomsbury Publishing USA

Published: 2007-01-08

Total Pages: 336

ISBN-13: 1851099794

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This work is a fascinating overview of Americans' complex and occasionally uneasy relationship with military service, from World War II to the age of global terrorism. The end of the Cold War ushered in a new kind of war that has already made conventional tactics and strategy obsolete. How has the U.S. military responded? In U.S. Military Service: A Reference Handbook, Cynthia Watson, professor of strategy at the National War College, analyzes the major issues that are reshaping the military in the era of global terrorism—problems of recruitment, urban warfare, effective use of electronic media, and rebuilding failed states. She also examines the unprecedented policy of relinquishing military duties to the for-profit sector, which has occurred in both Afghanistan and Iraq. Through a combination of detailed analysis and broad overview, the work shows how the U.S. military is quickly transforming itself into a leaner, more agile force.

Advances in the Economics of Aging
Advances in the Economics of Aging

Author: David A. Wise

Publisher: University of Chicago Press

Published: 2007-12-01

Total Pages: 368

ISBN-13: 0226903206

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This volume presents innovative research on issues of importance to the well-being of older persons: labor market behavior, health care, housing and living arrangements, and saving and wealth. Specific topics include the effect of labor market rigidities on the employment of older workers; the effect on retirement of the availability of continuation coverage benefits; and the influence of the prospective payment system (PPS) on rising Medicare costs. Also considered are the effects of health and wealth on living arrangement decisions; the incentive effects of employer-provided pension plans; the degree of substitution between 401(k) plans and other employer-provided retirement saving arrangements; and the extent to which housing wealth determines how much the elderly save and consume. Two final studies use simulations that describe the implications of stylized economic models of behavior among the elderly. This timely volume will be of interest to anyone concerned with the economics of aging.

The Military Pension, Compensation, and Retirement of U.S. Air Force Pilots
The Military Pension, Compensation, and Retirement of U.S. Air Force Pilots

Author: John A. Ausink

Publisher:

Published: 1993

Total Pages: 58

ISBN-13:

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This paper uses the option value model of Stock and Wise to analyze the departure patterns of a sample of pilots in the United States Air Force. Pilot compensation and the military pension are described, as are some details of the option value model and two other models: the Annualized Cost of Leaving (ACOL) model, which is used by the Department of Defense, and a variant of a dynamic programming model proposed by Daula and Moffitt. The option value model captures departure behavior much better than the ACOL model, and substantially better than the dynamic programming model. The superiority of the option value model to the dynamic programming formulation raises the possibility that individual decision-making may not always be best modeled by a formulation that is intended to capture 'correct' economic financial calculations. This is consistent with findings by Lumsdaine, Stock and Wise for civilians in a Fortune 500 firm.