Hung, N.-M; Poudou, J.-C.; Thomas, L. - Centre de Recherche en Économie et Droit de … - 2003
This paper studies the design of a mining concession contract as a multi-period autoselection problem where production is the depletion of a non renewable resource. As compared to symmetric information, we show that overproduction (resp. underproduction) is optimal in the initial phase (resp....