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Back To The Future: A Willingness To Play Reexamined

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  • Martin, William E.

Abstract

As the Central Arizona project is being completed and contracts are being negotiated, economic analysis continues to show that neither agriculture nor municipalities would benefit from the project if repayment actually is required according to previously suggested schedules. Earlier analyses were either ignored or condemned as farmers were willing to play a water development game in the face of uncertain future repayment requirements. The game of playing for subsidized water continues even as the buyers now face real costs rather than just some future possibility of incurring costs. Recent analysis is being used to help negotiate favorable delivery and repayment contracts. Experience has shown that once the physical development is in place, costs are negotiable.

Suggested Citation

  • Martin, William E., 1988. "Back To The Future: A Willingness To Play Reexamined," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 13(1), pages 1-9, July.
    • Handle: RePEc:ags:wjagec:32164
    DOI: 10.22004/ag.econ.32164
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    References listed on IDEAS

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    1. Young, Robert A., 1978. "Economic Analysis And Federal Irrigation Policy: A Reappraisal," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 3(2), pages 1-12, December.
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    Cited by:

    1. Hanemann, W. Michael, 2002. "The Central Arizona Project," Department of Agricultural & Resource Economics, UC Berkeley, Working Paper Series qt87k436cf, Department of Agricultural & Resource Economics, UC Berkeley.
    2. Wilson, Paul N., 1997. "Economic Discovery In Federally Supported Irrigation Districts: A Tribute To William E. Martin And Friends," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 22(1), pages 1-17, July.

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    2. Martin, William E., 1979. "Returns To Public Irrigation Development And The Concomitant Costs Of Commodity Programs," 1979 Annual Meeting, July 29-August 1, Pullman, Washington 277609, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).

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    Keywords

    Resource /Energy Economics and Policy;

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