The Role of Information in U.S. Offshore Oil and Gas Lease Auctions
Robert Porter
No 4185, NBER Working Papers from National Bureau of Economic Research, Inc
Abstract:
This paper describes the U.S. offshore oil and gas lease sales, conducted by the Department of the Interior since 1954. Several decision problems are discussed, including bidding for leases, the government's decision whether to accept the highest bid, the incidence and timing of exploratory drilling, and the formation of bidding consortia. It is argued that equilibrium models that emphasize informational and strategic issues, and that account for institutional features of the leasing program, provide accurate predictions of outcomes.
Date: 1992-10
Note: IO
References: View references in EconPapers View complete reference list from CitEc
Citations:
Published as Econometrica, January 1995,vol. 63, No. 1, pp. 1-27.
Downloads: (external link)
http://www.nber.org/papers/w4185.pdf (application/pdf)
Related works:
Journal Article: The Role of Information in U.S. Offshore Oil and Gas Lease Auctions (1995) 
Working Paper: The Role of Information in U.S. Offshore Oil and Gas Lease Auctions (1992) 
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:nbr:nberwo:4185
Ordering information: This working paper can be ordered from
http://www.nber.org/papers/w4185
Access Statistics for this paper
More papers in NBER Working Papers from National Bureau of Economic Research, Inc National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A.. Contact information at EDIRC.
Bibliographic data for series maintained by ().