Market Structure and Uncertainty in Oil and Gas Exploration

James W. McKie

The Quarterly Journal of Economics, 1960, vol. 74, issue 4, 543-571

Abstract: The occurrence of oil and gas, 544. — Steps in the exploratory process, 545. — Industry concentration, 546. — The success ratio, 550. — Risk, 554. — Access and risk preference, 556. — Uncertainty and information, 559. — The flow of information, 565. — The oil deal, 566. — Entry, 569.

Date: 1960
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