Open access, competitive exploitation can be incredibly damaging to valuable resources and the human populations that depend upon them. Even though wealth, resource rents and stocks are at stake, open access often seems to be ineffectively addressed across time and space. Institutions vary....

The seminal work of Fudenberg and Tirole (1985) on how preemption erodes the value of an option to wait raises general questions about the relation between models in discrete and continuous time and thus about the interpretation of its central result, relying on an "infinitely fine grid". Here...

In this study Data Envelopment Analysis (DEA) is used not only to develop an efficiency index which combines economic activity, CO2 emissions and energy consumption of the production process in the 31 countries of Europe for the year 2004, but also to make estimates about the margins of long...

China is appraised to have the world's largest exploitable reserves of shale gas, although several legal, regulatory, environmental and investment-related issues will likely restrain its scope. China's capacity to successfully face these hurdles and produce commercial shale gas will have a...

We apply both conventional and spatial techniques to panel data for US states to examine the effects of plausibly exogenous oil price shocks on economic growth. Contrary to the oil curse claims, we find that oil price shocks have numerically moderate but highly statistically significant positive...

Innovation-spurred growth in oil and gas production from shale formations led the U.S. to become the global leader in producing oil and natural gas. Because most shale is on private lands, drilling companies must access the resource through private lease contracts that provide a share of the...

For decades, Arctic Alaska has provided US mainland states with plentiful oil supplies. As reserves in the Prudhoe Bay fields decrease, however, the USA has been forced to consider new options to guarantee the nation's energy security. While debates continue to rage about its reliance on foreign...

Shale energy exploitation often occurs in rural areas. While agriculture dominates surface land use in these regions, energy development competes for inputs such as water and labor, and localized congestion externalities can create bottlenecks in transporting agricultural output. Additionally,...

The U.S. shale boom of the mid-2000s traded off possible environmental damage and negative quality-of-life impacts against income gains and rents captured by workers and property owners. This study measures the effect of local shale oil and gas extraction on local land prices and wages. Using...