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Resource Information Policy and Federal Resource Leasing

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  • Tom K. Lee

Abstract

An important observation in recent studies of federal resource information policy is that there may be overinvestment in acquiring resource information by the private sector in federal resource leasing. One policy conclusion is that the federal government should provide information about the resource being leased. This article provides conditions under which it pays the government to provide resource information. It also briefly evaluates a policy alternative, namely, the use of a contingent reservation bid scheme to solve the problem of overinvestment in resource information.

Suggested Citation

  • Tom K. Lee, 1982. "Resource Information Policy and Federal Resource Leasing," Bell Journal of Economics, The RAND Corporation, vol. 13(2), pages 561-568, Autumn.
    • Handle: RePEc:rje:bellje:v:13:y:1982:i:autumn:p:561-568
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    Cited by:

    1. Johan N. M. Lagerlöf & Christoph Schottmüller, 2018. "Facilitating Consumer Learning in Insurance Markets: What Are the Welfare Effects?," Scandinavian Journal of Economics, Wiley Blackwell, vol. 120(2), pages 465-502, April.
    2. Sjaak Hurkens & Nir Vulkan, 1999. "Endogenous information structures," Economics Working Papers 386, Department of Economics and Business, Universitat Pompeu Fabra.
    3. Jean Tirole, 1991. "Privatization in Eastern Europe: Incentives and the Economics of Transition," NBER Chapters, in: NBER Macroeconomics Annual 1991, Volume 6, pages 221-268, National Bureau of Economic Research, Inc.
    4. Hurkens, Sjaak & Vulkan, Nir, 2006. "Endogenous private information structures," European Economic Review, Elsevier, vol. 50(1), pages 35-54, January.
    5. Moresi, Serge, 2000. "Information acquisition and research differentiation prior to an open-bid auction1," International Journal of Industrial Organization, Elsevier, vol. 18(5), pages 723-746, July.

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