Deviations from Optimal Pricing of Lower Colorado River Water
@inproceedings{Hoffman1978DeviationsFO,
title={Deviations from Optimal Pricing of Lower Colorado River Water},
author={E. Hoffman},
year={1978}
}While a water shortage will not develop immediately because Lake
Mead in the Lower Basin and Lake Powell in the Upper Basin are both full,
some further rationing scheme will have to be employed in the near future.
This paper sets out a general model for the allocation of river water and
discusses the inefficiencies in the current allocation system. Then,
recognizing the difficulties involved in making second-best policy prescriptions,
it suggests some ways that inefficiencies might be… Expand