Relinquishing Riches: Auctions vs Informal Negotiations in Texas Oil and Gas Leasing
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https://www.nber.org/papers/w25712
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This paper compares outcomes from informally negotiated oil and gas leases to those awarded via centralized auction. We focus on Texas, where legislative decisions in the early twentieth century assigned thousands of proximate parcels to different mineral allocation mechanisms. We show that during
提供机构：
美国国家经济研究局
创建时间：
2019-04-01
