RAND Corporation (Research ANd Development) is a nonprofit global policy think tank first formed to offer research and analysis to the United States armed forces by Douglas Aircraft Company. It is currently financed by the U.S. government and private endowment, corporations including the healthcare industry, universities and private individuals. The organization has long since expanded to working with other governments, private foundations, international organizations, and commercial organizations on a host of non-defence issues. RAND aims for interdisciplinary and quantitative problem solving via translating theoretical concepts from formal economics and the hard sciences into novel applications in other areas; that is, via applied science and operations research. Michael D. Rich is president and chief executive officer of the RAND Corporation.
RAND has approximately 1,700 employees and three principal North American locations: Santa Monica, California (headquarters); Arlington, Virginia; and Pittsburgh, Pennsylvania. The RAND Gulf States Policy Institute has offices in New Orleans, Louisiana, and Jackson, Mississippi. RAND Europe is located in Cambridge, United Kingdom, and Brussels, Belgium. The RAND-Qatar Policy Institute is in Doha, Qatar. RAND's newest office is in Boston, Massachusetts.
RAND is also home to the Frederick S. Pardee RAND Graduate School, one of the original[clarification needed] graduate programs in public policy and the first to offer a Ph.D. The program aims to have practical value in that students work alongside RAND analysts on real-world problems. The campus is at RAND's Santa Monica research facility. The Pardee RAND School is the world's largest Ph.D.-granting program in policy analysis.
RAND publishes the RAND Journal of Economics, a peer-reviewed journal of economics.
To date, 32 recipients of the Nobel Prize, primarily in the fields of economics and physics, have been involved or associated with RAND at some point in their career.[