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Federal Management of Energy and Mineral Resources on the Public Lands


  • Thomas J. Teisberg


This paper develops a model of optimal timing in the exploration and development of mineral deposits. The model is used to analyze Federal public lands mineral resource management systems and to offer some rules for optimal administration within those systems. In particular, it is shown that there are optimal financial terms which, together with an open access policy and strict diligence enforcement, are theoretically capable of producing efficient timing in both exploration and development of mineral deposits on the public lands.

Suggested Citation

  • Thomas J. Teisberg, 1980. "Federal Management of Energy and Mineral Resources on the Public Lands," Bell Journal of Economics, The RAND Corporation, vol. 11(2), pages 448-465, Autumn.
  • Handle: RePEc:rje:bellje:v:11:y:1980:i:autumn:p:448-465

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    References listed on IDEAS

    1. Samet, Dov & Tauman, Yair, 1982. "The Determination of Marginal Cost Prices under a Set of Axioms," Econometrica, Econometric Society, vol. 50(4), pages 895-909, July.
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    Cited by:

    1. Iledare, Omowumi O. & Pulsipher, Allan G. & Olatubi, Williams O. & Mesyanzhinov, Dmitry V., 2004. "An empirical analysis of the determinants of high bonus bids for petroleum leases in the U.S. Outer Continental Shelf (OCS)," Energy Economics, Elsevier, vol. 26(2), pages 239-259, March.
    2. Lawrence J. White, 2006. "The Fishery as a Watery Commons: Lessons from the Experiences of Other Public Policy Areas for US Fisheries Policy," Working Papers 06-18, New York University, Leonard N. Stern School of Business, Department of Economics.

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