I have no idea, to be honest. My belief that smaller grants might not be the best trial run for cost-effectiveness is based more on assumptions that (1) highly qualified reviewers might not think reviewing grants in that range is an effective use of their time; and (2) very quick reviews are likely to identify only clearly erroneous exercises of grantmaking discretion. Either assumption could be wrong!
But I think at that grant size, the cost-effectiveness profile might be more favorable for a system of peer review under specified circumstances rather than as a automatic practice. Knowing that they were only being asked when there was a greater chance their assistance might be outcome-determinative might help with attracting quality reviewers too.
I have no idea, to be honest. My belief that smaller grants might not be the best trial run for cost-effectiveness is based more on assumptions that (1) highly qualified reviewers might not think reviewing grants in that range is an effective use of their time; and (2) very quick reviews are likely to identify only clearly erroneous exercises of grantmaking discretion. Either assumption could be wrong!
But I think at that grant size, the cost-effectiveness profile might be more favorable for a system of peer review under specified circumstances rather than as a automatic practice. Knowing that they were only being asked when there was a greater chance their assistance might be outcome-determinative might help with attracting quality reviewers too.