Details about James L. Smith
Access statistics for papers by James L. Smith.
Last updated 2025-03-14. Update your information in the RePEc Author Service.
Short-id: psm124
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Working Papers
2024
- Managing the Oil Market Under Misinformation: A Reasonable Quest?
Discussion Papers, King Abdullah Petroleum Studies and Research Center 
See also Journal Article Managing the oil market under misinformation: A reasonable quest?, Journal of Commodity Markets, Elsevier (2024) (2024)
2012
- Issues in Extractive Resource Taxation: A Review of Research Methods and Models
IMF Working Papers, International Monetary Fund View citations (9)
See also Journal Article Issues in extractive resource taxation: A review of research methods and models, Resources Policy, Elsevier (2013) View citations (46) (2013)
- Modeling the Impact of Taxes on Petroleum Exploration and Development
IMF Working Papers, International Monetary Fund View citations (10)
- The Informational Role of Spot Prices and Inventories
RFF Working Paper Series, Resources for the Future View citations (1)
See also Journal Article The informational role of spot prices and inventories, Journal of Energy Markets, Journal of Energy Markets
2010
- On The Portents of Peak Oil (And Other Indicators of Resource Scarcity)
Working Papers, Massachusetts Institute of Technology, Center for Energy and Environmental Policy Research 
See also Journal Article On the portents of peak oil (and other indicators of resource scarcity), Energy Policy, Elsevier (2012) View citations (7) (2012)
2008
- World Oil: Market or Mayhem?
Working Papers, Massachusetts Institute of Technology, Center for Energy and Environmental Policy Research 
See also Journal Article World Oil: Market or Mayhem?, Journal of Economic Perspectives, American Economic Association (2009) View citations (160) (2009)
2006
- Rational Plunging and the Option Value of Sequential Investment The Case of Petroleum Exploration
Working Papers, Massachusetts Institute of Technology, Center for Energy and Environmental Policy Research 
See also Journal Article Rational plunging and the option value of sequential investment: The case of petroleum exploration, The Quarterly Review of Economics and Finance, Elsevier (2009) View citations (4) (2009)
2005
- Diversification and the Value of Exploration Portfolios
Working Papers, Massachusetts Institute of Technology, Center for Energy and Environmental Policy Research
2004
- Managing a Portfolio of Real Options: Sequential Exploration of Dependent Prospects
Working Papers, Massachusetts Institute of Technology, Center for Energy and Environmental Policy Research 
See also Journal Article Managing a Portfolio of Real Options: Sequential Exploration of Dependent Prospects, The Energy Journal (2008) (2008)
- The Option to Try Again: Valuing a Sequence of Dependent Trials
Working Papers, Massachusetts Institute of Technology, Center for Energy and Environmental Policy Research
2003
- Distinguishable Patterns of Competition, Collusion, and Parallel Action
Working Papers, Massachusetts Institute of Technology, Center for Energy and Environmental Policy Research
- Inscrutable OPEC? Behavioral Tests of the Cartel Hypothesis
Working Papers, Massachusetts Institute of Technology, Center for Energy and Environmental Policy Research 
See also Journal Article Inscrutable OPEC? Behavioral Tests of the Cartel Hypothesis, The Energy Journal, International Association for Energy Economics (2005) View citations (91) (2005)
- Petroleum Property Valuation
Working Papers, Massachusetts Institute of Technology, Center for Energy and Environmental Policy Research
2002
- The economic evolution of petroleum property rights in the United States
ICER Working Papers, ICER - International Centre for Economic Research View citations (16)
See also Journal Article The Economic Evolution of Petroleum Property Rights in the United States, The Journal of Legal Studies, University of Chicago Press (2002) View citations (15) (2002)
2001
- Political constraints on government cartelization: the case of oil production regulation in Texas and Saudi Arabia
ICER Working Papers, ICER - International Centre for Economic Research
- The economic evolution of petroleum property rights in the United States: a test of the Demsetz hypothesis
ICER Working Papers, ICER - International Centre for Economic Research
1999
- The Self-Enforcing Provisions of Oil and Gas Unit Operating Agreements: Theory and Evidence
NBER Working Papers, National Bureau of Economic Research, Inc View citations (30)
See also Journal Article The Self-Enforcing Provisions of Oil and Gas Unit Operating Agreements: Theory and Evidence, The Journal of Law, Economics, and Organization, Oxford University Press (1999) View citations (28) (1999)
Journal Articles
2024
- Managing the oil market under misinformation: A reasonable quest?
Journal of Commodity Markets, 2024, 34, (C) 
See also Working Paper Managing the Oil Market Under Misinformation: A Reasonable Quest?, Discussion Papers (2024) (2024)
2023
- Oil Market Stabilization: The Performance of OPEC and Its Allies
The Energy Journal, 2023, 44, (6), 1-22 View citations (1)
2021
- Greetings from the IAEE President
Economics of Energy & Environmental Policy, 2021, Volume 10, (Number 2)
2020
- OPEC's Pursuit of Market Stability
Economics of Energy & Environmental Policy, 2020, Volume 9, (Number 2) View citations (3)
2019
- The Green Paradox, A Hotelling Cul de Sac
Economics of Energy & Environmental Policy, 2019, Volume 8, (Number 2) View citations (5)
2018
- Estimating the future supply of shale oil: A Bakken case study
Energy Economics, 2018, 69, (C), 395-403 View citations (2)
- How and Why Petroleum Leases Are Held by Production: Analysis of a Compound Option
Land Economics, 2018, 94, (1), 52-72 View citations (2)
- OPECs Impact on Oil Price Volatility: The Role of Spare Capacity
The Energy Journal, 2018, Volume 39, (Number 2) View citations (21)
2017
- The price elasticity of U.S. shale oil reserves
Energy Economics, 2017, 67, (C), 121-135 View citations (9)
2015
- Introduction: Is the Genie Back in the Bottle?
The Energy Journal, 2015, 36, (1_suppl), 1-20
- Valuing Barrels of Oil Equivalent
The Energy Journal, 2015, 36, (1_suppl), 179-194 
Also in The Energy Journal, 2015, Volume 36, (Adelman Special Issue) (2015) View citations (3)
2014
- A parsimonious model of tax avoidance and distortions in petroleum exploration and development
Energy Economics, 2014, 43, (C), 140-157 View citations (10)
2013
- Issues in extractive resource taxation: A review of research methods and models
Resources Policy, 2013, 38, (3), 320-331 View citations (46)
See also Working Paper Issues in Extractive Resource Taxation: A Review of Research Methods and Models, IMF Working Papers (2012) View citations (9) (2012)
- Oil Price Forecasts and Trends: Interviews with the Experts
Review of Environment, Energy and Economics - Re3, 2013
2012
- On the portents of peak oil (and other indicators of resource scarcity)
Energy Policy, 2012, 44, (C), 68-78 View citations (7)
See also Working Paper On The Portents of Peak Oil (And Other Indicators of Resource Scarcity), Working Papers (2010) (2010)
- The impact of reserve prices on the perceived bias of expert appraisals of fine art
Journal of Applied Econometrics, 2012, 27, (2), 235-252 View citations (18)
2009
- Rational plunging and the option value of sequential investment: The case of petroleum exploration
The Quarterly Review of Economics and Finance, 2009, 49, (3), 1009-1033 View citations (4)
See also Working Paper Rational Plunging and the Option Value of Sequential Investment The Case of Petroleum Exploration, Working Papers (2006) (2006)
- World Oil: Market or Mayhem?
Journal of Economic Perspectives, 2009, 23, (3), 145-64 View citations (160)
See also Working Paper World Oil: Market or Mayhem?, Working Papers (2008) (2008)
2008
- Managing a Portfolio of Real Options: Sequential Exploration of Dependent Prospects
The Energy Journal, 2008, 29, (1_suppl), 43-62 
Also in The Energy Journal, 2008, Volume 29, (Special Issue), 43-62 (2008) View citations (3)
See also Working Paper Managing a Portfolio of Real Options: Sequential Exploration of Dependent Prospects, Working Papers (2004) (2004)
2005
- Inscrutable OPEC? Behavioral Tests of the Cartel Hypothesis
The Energy Journal, 2005, Volume 26, (Number 1), 51-82 View citations (91)
Also in The Energy Journal, 2005, 26, (1), 51-82 (2005) 
See also Working Paper Inscrutable OPEC? Behavioral Tests of the Cartel Hypothesis, Working Papers (2003) (2003)
- Petroleum Prospect Valuation: The Option to Drill Again
The Energy Journal, 2005, Volume 26, (Number 4), 53-68 View citations (8)
Also in The Energy Journal, 2005, 26, (4), 53-68 (2005)
2002
- Entry coordination in auctions and social welfare: An experimental investigation
International Journal of Game Theory, 2002, 30, (3), 321-350 View citations (13)
- Oil and the economy: introduction
The Quarterly Review of Economics and Finance, 2002, 42, (2), 163-168 View citations (3)
- The Economic Evolution of Petroleum Property Rights in the United States
The Journal of Legal Studies, 2002, 31, (2), S589-608 View citations (15)
See also Working Paper The economic evolution of petroleum property rights in the United States, ICER Working Papers (2002) View citations (16) (2002)
2001
- Regulatory Remedies to the Common Pool: The Limits to Oil Field Unitization
The Energy Journal, 2001, Volume22, (Number 1), 1-26 View citations (13)
Also in The Energy Journal, 2001, 22, (1), 1-26 (2001) View citations (1)
2000
- Oil and Ideology: The Cultural Creation of the American Petroleum Industry. By Roger M. Olien and Diana Davids Olien. Chapel Hill: The University of North Carolina Press, 2000. Pp. xv, 305. $49.95, cloth; $18.95, paper
The Journal of Economic History, 2000, 60, (3), 908-910
1999
- The Self-Enforcing Provisions of Oil and Gas Unit Operating Agreements: Theory and Evidence
The Journal of Law, Economics, and Organization, 1999, 15, (2), 526-48 View citations (28)
See also Working Paper The Self-Enforcing Provisions of Oil and Gas Unit Operating Agreements: Theory and Evidence, NBER Working Papers (1999) View citations (30) (1999)
1996
- Optimal Reservation Prices in Auctions
Economic Journal, 1996, 106, (438), 1271-83 View citations (45)
- Ranking Auctions with Risk Averse Bidders
Journal of Economic Theory, 1996, 68, (2), 549-561 View citations (37)
1995
- On the Cost of Lost Production from Russian Oil Fields
The Energy Journal, 1995, Volume16, (Number 2), 25-58 View citations (7)
Also in The Energy Journal, 1995, 16, (2), 25-57 (1995)
1994
- Equilibrium in Auctions with Entry
American Economic Review, 1994, 84, (3), 585-99 View citations (369)
1993
- Petroleum Property Valuation: A Binomial Lattice Implementation of Option Pricing Theory
The Energy Journal, 1993, Volume 14, (Number 2), 1-26 View citations (13)
Also in The Energy Journal, 1993, 14, (2), 1-26 (1993)
1991
- Some Evidence on the Winner's Curse: Comment
American Economic Review, 1991, 81, (1), 370-75 View citations (13)
1988
- Failure of the Net Profit Share Leasing Experiment for Offshore Petroleum Resources
The Review of Economics and Statistics, 1988, 70, (2), 199-206
- Option Valuation of Claims on Real Assets: The Case of Offshore Petroleum Leases
The Quarterly Journal of Economics, 1988, 103, (3), 479-508 View citations (265)
1987
- The Common Pool, Bargaining, and the Rule of Capture
Economic Inquiry, 1987, 25, (4), 631-44 View citations (7)
1985
- Effects of Taxes and Price Regulation on Offshore Gas
The Energy Journal, 1985, Volume 6, (Special Issue) View citations (4)
Also in The Energy Journal, 1985, 6, (1_suppl), 279-289 (1985)
1984
- Further Results on Equilibrium Patterns of Competition in OCS Lease Sales
Economic Inquiry, 1984, 22, (1), 142-46 View citations (1)
- Regional modelling of oil discovery and production
Energy Economics, 1984, 6, (1), 5-13 View citations (10)
1983
- Joint Bidding, Information Pooling, and the Performance of Petroleum Lease Auctions
Bell Journal of Economics, 1983, 14, (2), 395-404 View citations (21)
1982
- Equilibrium Patterns of Competition in OCS Lease Sales
Economic Inquiry, 1982, 20, (2), 180-90 View citations (1)
- Risk Aversion and Bidding Behavior for Offshore Petroleum Leases
Journal of Industrial Economics, 1982, 30, (3), 251-69 View citations (2)
1981
- Non-Aggressive Bidding Behavior and the "Winner's Curse."
Economic Inquiry, 1981, 19, (3), 380-88 View citations (4)
1980
- A Probabilistic Model of Oil Discovery
The Review of Economics and Statistics, 1980, 62, (4), 587-94 View citations (8)
1978
- Oil Supply Forecasting: A Disaggregated Process Approach
Bell Journal of Economics, 1978, 9, (1), 218-235 View citations (3)
Undated
- The informational role of spot prices and inventories
Journal of Energy Markets 
See also Working Paper The Informational Role of Spot Prices and Inventories, RFF Working Paper Series (2012) View citations (1) (2012)
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