The Grand Canyon Controversy : Lessons for Federal Cost-Benefit Practices.

by Alan Carlin

Purchase Print Copy

 FormatList Price Price
Add to Cart Paperback25 pages $20.00 $16.00 20% Web Discount

A review and analysis of the economic controversy over the proposed Grand Canyon dams. Several federal evaluation practices not fully developed in previous analyses of Senate Document 97 are pointed out: use of the wording "most likely" to exclude lower cost alternatives from consideration; inclusion of taxes and higher interest rates in evaluating a private alternative; unreasonable assumptions with regard to transmission costs of alternatives; and inadequate interest used in computing cost when rates are relatively high. However, the real problem is more likely to be the political realities of the situation than ignorance of economic principles. 25 pp.

This report is part of the RAND Corporation Paper series. The paper was a product of the RAND Corporation from 1948 to 2003 that captured speeches, memorials, and derivative research, usually prepared on authors' own time and meant to be the scholarly or scientific contribution of individual authors to their professional fields. Papers were less formal than reports and did not require rigorous peer review.

Our mission to help improve policy and decisionmaking through research and analysis is enabled through our core values of quality and objectivity and our unwavering commitment to the highest level of integrity and ethical behavior. To help ensure our research and analysis are rigorous, objective, and nonpartisan, we subject our research publications to a robust and exacting quality-assurance process; avoid both the appearance and reality of financial and other conflicts of interest through staff training, project screening, and a policy of mandatory disclosure; and pursue transparency in our research engagements through our commitment to the open publication of our research findings and recommendations, disclosure of the source of funding of published research, and policies to ensure intellectual independence. For more information, visit www.rand.org/about/principles.

The RAND Corporation is a nonprofit institution that helps improve policy and decisionmaking through research and analysis. RAND's publications do not necessarily reflect the opinions of its research clients and sponsors.