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Information Externalities In Oil And Gas Leasing

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  • JEFFREY J. LElTZlNGER
  • JOSEPH E. STIGLITZ

Abstract

This paper discusses the theory and measurement of information externalities in oil and gas leasing. A study of leases issued in the Gulf of Mexico reveals significant positive information externalities resulting from prior development of adjoining leases. According to a recent court decision, these effects provide an added consideration in the determination of a "fair and equitable" division of revenues from federal tracts adjoining state lands, as required by the 1978 amendments to the Outer Continental Shelf Lands Act Copyright 1984 Western Economic Association International.

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Bibliographic Info

Article provided by Western Economic Association International in its journal Contemporary Economic Policy.

Volume (Year): 2 (1984)
Issue (Month): 5 (03)
Pages: 44-57

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Handle: RePEc:bla:coecpo:v:2:y:1984:i:5:p:44-57

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Cited by:
  1. Gary Charness & Dan Levin, 2005. "The Origin of the Winner’s Curse: A Laboratory Study," Levine's Bibliography 666156000000000602, UCLA Department of Economics.

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