concern the design of the lease contract, the design of the auction, and the supply of leases. A distinguishing feature of oil … exploration and development rights for oil and gas leases in US federal lands to highlight the trade-offs at play. The main issues … and gas leases is that the mechanism must solve not only the adverse selection problem of selecting the bidder with the …

competitively in a limited number of auctions only, and we discuss how our results can help to improve oil and gas tract auction …This paper analyzes bidding behavior in oil and gas tract auctions in Brazil, where the main winner has been Petrobras …, a national company. We test predictions from the theory of common -value, first -price, sealed -bid auctions with …

This paper compares outcomes from informally negotiated oil and gas leases to those awarded via centralized auction. We … companies, and leases allocated by auction are 44% more productive. These results are consistent with theoretical intuitions … Relinquishment Act of 1919 authorizes private individuals who own surface-only rights to negotiate mineral leases on behalf of the …

This paper compares outcomes from informally negotiated oil and gas leases to those awarded via centralized auction. We …, auctioned leases generated at least 40 percent larger upfront payments and 60 percent more output than negotiated leases did …

This paper compares outcomes from informally negotiated oil and gas leases to those awarded via centralized auction. We …, auctioned leases generated at least 40 percent larger upfront payments and 60 percent more output than negotiated leases did …