Forms of Inefficiency Sample Clauses

Forms of Inefficiency. In the prior section, we saw how MET does not possess two sufficient conditions for efficiency (abundance and social prefer- ences). Without these sufficient conditions, the argument for efficiency reverts to Xxxx and Xxxxx’x theoretical case that homoge- nous preferences are necessary and sufficient for efficiency. Given that MET’s member agencies differ in their dependency on MET for water—and that dependency is a driv- ing force in member agencies preferences— we can conclude that MET lacks the neces- sary condition for efficiency—in theory. If we believe Xxxx and Xxxxx’x concep- tual framework—that MET’s form as a co- operative is inefficient—we should be able to find examples of inefficiency. In this section, we look for two forms of inefficiency com- mon to collective choice organizations: inef- ficiency from conflict over making decisions in Section 4.3 and inefficiency from mis- guided policies in Section 4.4 (Xxxxxxxx, 1996).14 Note that conflict over policy is not the end of the game. If policies change the bal- ance of power, they can increase conflict re- lated to new policies (Xxxxxxx, 2003). On the other hand, conflict can decrease the ef- ficiency of policies if member agencies bring a hostile interpretation to incomplete con- tracts. SDCWA, for example, decided the Laguna Declaration’s promise of “adequate supplies” meant it could buy as much wa- ter as it wanted at MET’s scheduled prices (see Section 3.13 on page 45); a more gener- ous interpretation would have allowed prices to rise. If SDCWA wanted less at those prices, its harm from “unavailable” water would have been reduced. If inefficiency increases inequality, those who gain wealth may suffer if those who lose reduce the scope for cooperation (Car- 13An examination of annual dependency shows that SDCWA is most dependent in all 35 years (standard deviation = 0.00) as well as in calculations over different ranges (1960–2004 or 1980–2004). In those different ranges, the second and third most-dependent member agencies swap places. 14Chapter 6 has an empirical test of efficiency in water allocation.
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