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Market Structure and Uncertainty in Oil and Gas Exploration

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  • James W. McKie

Abstract

The occurrence of oil and gas, 544. — Steps in the exploratory process, 545. — Industry concentration, 546. — The success ratio, 550. — Risk, 554. — Access and risk preference, 556. — Uncertainty and information, 559. — The flow of information, 565. — The oil deal, 566. — Entry, 569.

Suggested Citation

  • James W. McKie, 1960. "Market Structure and Uncertainty in Oil and Gas Exploration," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 74(4), pages 543-571.
    • Handle: RePEc:oup:qjecon:v:74:y:1960:i:4:p:543-571.
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    File URL: http://hdl.handle.net/10.2307/1884351
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    Citations

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    Cited by:

    1. Brown, Jason P. & Fitzgerald, Timothy & Weber, Jeremy G., 2016. "Capturing rents from natural resource abundance: Private royalties from U.S. onshore oil & gas production," Resource and Energy Economics, Elsevier, vol. 46(C), pages 23-38.
    2. Paul A. Brehm & Eric Lewis, 2021. "Information asymmetry, trade, and drilling: evidence from an oil lease lottery," RAND Journal of Economics, RAND Corporation, vol. 52(3), pages 496-514, September.
    3. Brown, Jason P. & Coupal, Roger & Hitaj, Claudia & Kelsey, Timothy W. & Krannich, Richard S. & Xiarchos, Irene M., 2017. "New Dynamics in Fossil Fuel and Renewable Energy for Rural America," USDA Miscellaneous 260676, United States Department of Agriculture.
    4. Eric Lewis, 2019. "Patchwork Policies, Spillovers, and the Search for Oil and Gas," American Economic Journal: Economic Policy, American Economic Association, vol. 11(1), pages 380-405, February.
    5. Sharma, Sunil, 2015. "Strategic Judgment under Pervasive Uncertainty," IIMA Working Papers WP2015-03-20, Indian Institute of Management Ahmedabad, Research and Publication Department.
    6. Spinks, Thomas & Dahl, Dale C., 1981. "Inputs Used in U.S. Farm Production: A Bibliography of Selected Economic Studies, 1950-80," Economics and Statistics Services (ESS) Reports 319963, United States Department of Agriculture, Economic Research Service.
    7. Sharma, Sunil & Sud, Mukesh, 2019. "Impact of regulatory framework on bidding behavior of firms: Policy implications for the oil & gas sector," Energy Policy, Elsevier, vol. 131(C), pages 33-42.
    8. Pablo Salas, 2013. "Literature Review of Energy-Economics Models, Regarding Technological Change and Uncertainty," 4CMR Working Paper Series 003, University of Cambridge, Department of Land Economy, Cambridge Centre for Climate Change Mitigation Research.

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