The paper develops a model of the intertemporal allocation of consumption where the role of national security is in protecting the wealth of a country from an attack by an adversary. The model disaggregates weapon systems into those which reduce the likelihood of an attack and those which reduce...

With many of the most important new military systems of the past decade produced by small firms that won competitive government contracts, defense-industry consultant James Hasik argues in Arms and Innovation that small firms have a number of advantages relative to their bigger competitors. Such...