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<p>This thesis examined the feasibility of using a quality adjusted auction for retaining  quality officers while assigning voluntary separation pay to Marine officers. The study  used survey data to set parameters for the auction. Data used in the study was collected  from a survey administered to approximately 500 officers assigned to I Marine  Expeditionary Force, Naval Postgraduate School and Defense Language Institute.  Furthermore, survey data was used to estimate the effects of personal, professional and  economic factors on a Marine officer's decision to participate in a voluntary separation  program.  Results find that a quality adjusted auction for separation can provide cost savings  and improve the quality of officers retained. Unlike a retention auction where higher  quality officers receive higher retention bonuses, higher quality officers receive lower  separation bonuses in a quality adjusted auction for separation. Probit model estimates  find that expected civilian pay, personal discount rate, marital status, military  occupational specialty and pay grade had a significant effect on the probability of an  officer participating in a voluntary separation program. Ordinary least squares estimates  find that aviation and combat service support military occupational specialties, and  quality score had a significant effect on an officer's personal discount rate.
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<br>Subjects: Economics; Organization; Budget</div>
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Pearson, Quincy R.</div>
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