IDEAS home Printed from https://ideas.repec.org/p/apl/wpaper/08-03.html

Effect of US Policies on Offshore Oil Leasing, 1983-2006: A Random Parameter Logit Regression Analysis

Author

Listed:
  • Brett R. Gelso
  • John C. Whitehead

Abstract

The purpose of this study is to determine the effects of Minerals Management Service policy on Outer Continental Shelf leasing between 1983 and 2006. We apply a discrete choice model to a large, recently-developed spatial data set and focus on the effect of increased royalties on offshore production. We focus on offshore policies subsequent to 1983 with a flexible Random Parameters Logit model. Oil prices, net income, distance, geographical proxies and weather variables influence bidding in expected ways. We include the second moment of parameter distributions to avoid erroneous conclusions about the effects of government policy on bidding. Key Words: Random Parameter Logit, Oil Policy, Outer Continental Shelf

Suggested Citation

  • Brett R. Gelso & John C. Whitehead, 2008. "Effect of US Policies on Offshore Oil Leasing, 1983-2006: A Random Parameter Logit Regression Analysis," Working Papers 08-03, Department of Economics, Appalachian State University.
    • Handle: RePEc:apl:wpaper:08-03
    as

    Download full text from publisher

    File URL: http://econ.appstate.edu/RePEc/pdf/wp0803.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Douglas K. Reece, 1978. "Competitive Bidding for Offshore Petroleum Leases," Bell Journal of Economics, The RAND Corporation, vol. 9(2), pages 369-384, Autumn.
    2. Kenneth E. Train, 1998. "Recreation Demand Models with Taste Differences over People," Land Economics, University of Wisconsin Press, vol. 74(2), pages 230-239.
    3. Louviere,Jordan J. & Hensher,David A. & Swait,Joffre D. With contributions by-Name:Adamowicz,Wiktor, 2000. "Stated Choice Methods," Cambridge Books, Cambridge University Press, number 9780521788304.
    4. Louviere, Jordan J, 2001. "What If Consumer Experiments Impact Variances as Well as Means? Response Variability as a Behavioral Phenomenon," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 28(3), pages 506-511, December.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Haghani, Milad & Bliemer, Michiel C.J. & Hensher, David A., 2021. "The landscape of econometric discrete choice modelling research," Journal of choice modelling, Elsevier, vol. 40(C).
    2. Asrat, Sinafikeh & Yesuf, Mahmud & Carlsson, Fredrik & Wale, Edilegnaw, 2009. "Farmers’ Preferences for Crop Variety Traits: Lessons for On-Farm Conservation and Technology Adoption," RFF Working Paper Series dp-09-15-efd, Resources for the Future.
    3. Gevrek, Z.Eylem & Uyduranoglu, Ayse, 2015. "Public preferences for carbon tax attributes," Ecological Economics, Elsevier, vol. 118(C), pages 186-197.
    4. Catalina M. Torres Figuerola & Nick Hanley & Sergio Colombo, 2011. "Incorrectly accounting for taste heterogeneity in choice experiments: Does it really matter for welfare measurement?," CRE Working Papers (Documents de treball del CRE) 2011/1, Centre de Recerca Econòmica (UIB ·"Sa Nostra").
    5. Baskaran, Ramesh & Cullen, Ross & Colombo, Sergio, 2010. "Testing different types of benefit transfer in valuation of ecosystem services: New Zealand winegrowing case studies," Ecological Economics, Elsevier, vol. 69(5), pages 1010-1022, March.
    6. Riccardo SCARPA & Fiorenza SPALATRO & Maurizio CANAVARI, 2005. "Investigating Preferences For Environment Friendly Production," Others 0505003, University Library of Munich, Germany.
    7. De Valck, Jeremy & Vlaeminck, Pieter & Liekens, Inge & Aertsens, Joris & Chen, Wendy & Vranken, Liesbet, 2012. "The sources of preference heterogeneity for nature restoration scenarios," Working Papers 146522, Katholieke Universiteit Leuven, Centre for Agricultural and Food Economics.
    8. Ortega, David L. & Waldman, Kurt B. & Richardson, Robert B. & Clay, Daniel C. & Snapp, Sieglinde, 2016. "Sustainable Intensification and Farmer Preferences for Crop System Attributes: Evidence from Malawi’s Central and Southern Regions," World Development, Elsevier, vol. 87(C), pages 139-151.
    9. Fredrik Carlsson & Peter Frykblom & Carl-Johan Lagerkvist, 2004. "Consumer Benefits of Labels and Bans on GMO Foods: An Emprical Analysis Using Choice Experiments," Working Papers 04-02, Department of Economics, Appalachian State University.
    10. Siikamaki, Juha & Layton, David F., 2007. "Discrete choice survey experiments: A comparison using flexible methods," Journal of Environmental Economics and Management, Elsevier, vol. 53(1), pages 122-139, January.
    11. Collins Asante‐Addo & Daniela Weible, 2020. "Is there hope for domestically produced poultry meat? A choice experiment of consumers in Ghana," Agribusiness, John Wiley & Sons, Ltd., vol. 36(2), pages 281-298, April.
    12. Giovanni B Concu, 2009. "Measuring Environmental Externality Spillovers through Choice Modelling," Environment and Planning A, , vol. 41(1), pages 199-212, January.
    13. Stine Broch & Suzanne Vedel, 2012. "Using Choice Experiments to Investigate the Policy Relevance of Heterogeneity in Farmer Agri-Environmental Contract Preferences," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 51(4), pages 561-581, April.
    14. Z. Eylem Gevrek & Ayse Uyduranoglu, 2015. "Public Preferences for Carbon Tax Attributes," Working Paper Series of the Department of Economics, University of Konstanz 2015-15, Department of Economics, University of Konstanz.
    15. Lavin, Felipe Vasquez & Hanemann, W. Michael, "undated". "Taste Indicators and Heterogeneous Revealed Preferences for Congestion in Recreation Demand," CUDARE Working Papers 47041, University of California, Berkeley, Department of Agricultural and Resource Economics.
    16. Hala Abou- Ali, 2012. "Willingness to pay for improving land and water conditions for agriculture in Damietta, Egypt," Chapters, in: Hala Abou-Ali (ed.), Economic Incentives and Environmental Regulation, chapter 3, pages 46-70, Edward Elgar Publishing.
    17. Jose Yorobe & Ekin Birol & Melinda Smale, 2010. "Farmer Preferences for Bt Maize, Seed Information and Credit in the Philippines," Chapters, in: Jeff Bennett & Ekin Birol (ed.), Choice Experiments in Developing Countries, chapter 13, Edward Elgar Publishing.
    18. repec:ehu:biltok:5564 is not listed on IDEAS
    19. Birol, Ekin & Falck-Zepeda, Jose Benjamin & Kikulwe, Enoch M. & Wesseler, Justus, 2013. "Benefits, costs, and consumer perceptions of the potential introduction of a fungus-resistant banana in Uganda and policy implications," IFPRI book chapters, in: Falck-Zepeda, Jose Benjamin; Gruère, Guillaume P.; Sithole-Niang, Idah (ed.), Genetically modified crops in Africa: Economic and policy lessons from countries south of the Sahara, chapter 4, pages 99-141, International Food Policy Research Institute (IFPRI).
    20. Burke, Paul F. & Reitzig, Markus, 2007. "Measuring patent assessment quality--Analyzing the degree and kind of (in)consistency in patent offices' decision making," Research Policy, Elsevier, vol. 36(9), pages 1404-1430, November.
    21. Junyi Shen & Tatsuyoshi Saijo, 2007. "Does energy efficiency label alter consumers f purchase decision? A latent class approach on Shanghai data," OSIPP Discussion Paper 07E005, Osaka School of International Public Policy, Osaka University.

    More about this item

    Keywords

    ;
    ;
    ;

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:apl:wpaper:08-03. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: O. Ashton Morgan (email available below). General contact details of provider: https://edirc.repec.org/data/deappus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.