Engel, Eduardo; Fischer, Ronald - Economic Growth Center, Economics Department - 2008
informational requirements. The bidding variable is a cap on the present value of discounted revenues, and the firm with the lowest …. The bidding variable is a cap on the present value of discounted
revenues, and the firm with the lowest bid wins the … extraction, royalty, non-renewable natural resource, present-
value-of-revenue auction.
JEL classification: Q33, Q34, Q38, H21, H …