Please use this identifier to cite or link to this item: https://dair.nps.edu/handle/123456789/483
Title: On a Quantitative Definition of Affordability
Authors: Charles LaCivita
Kent Wall
Keywords: Affordability
Utility Maximization
Effectiveness
Affordability Index
Issue Date: 30-Apr-2011
Publisher: Acquisition Research Program
Citation: Published--Unlimited Distribution
Series/Report no.: Affordability
SYM-AM-11-079
Abstract: This paper introduces a definition of affordability based on the microeconomic theory of the consumer. We replace utility maximization with effectiveness maximization and discuss our conceptualization in terms of a cost-effectiveness framework. We convert our original ideas into a more useful degree (amount) of affordability (i.e., we ask not is it affordable? but How affordable is it?). This allows us to attach meaning to, and interest in, the concept of an affordability index or the measurement of the degree of affordability.
Description: Acquisition Management / Grant-funded Research
URI: https://dair.nps.edu/handle/123456789/483
Appears in Collections:Annual Acquisition Research Symposium Proceedings & Presentations

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