Relinquishing Riches: Auctions vs Informal Negotiations in Texas Oil and Gas Leasing

@inproceedings{Covert2019RelinquishingRA,
  title={Relinquishing Riches: Auctions vs Informal Negotiations in Texas Oil and Gas Leasing},
  author={Thomas Rutford Covert and Richard L. Sweeney},
  year={2019}
}
3. Most landowners use an informal “negotiation” process to choose a contracting partner and agree upon terms. Existing survey evidence suggests that many landowners are prematurely entering into lease agreements, without shopping around for the best deals, researching the process, or consultation with a lawyer. In contrast, state and federal governments use auctions to choose contracting partners and set mineral lease prices. 

Figures and Topics from this paper.

Explore Further: Topics Discussed in This Paper

References

Publications referenced by this paper.
SHOWING 1-10 OF 29 REFERENCES

Auctions: Theory and Practice

VIEW 8 EXCERPTS
HIGHLY INFLUENTIAL

Designing M&A Selling Mechanisms: Go-Shop Negotiations,

Wang, Zhe
  • Available at SSRN
  • 2018

Price Regulation in Credit Markets: A Trade-off between Consumer Protection and Credit Access,

Cuesta, José Ignacio, Alberto Sepulveda
  • Available at SSRN
  • 2018

Tadelis, “Sequential Bargaining in the Field: Evidence from Millions of Online Bargaining Interactions,

Backus, Matthew, Thomas Blake, Bradley Larsen, Steven
  • Working Paper 24306,
  • 2018

Geographic Dispersion of Economic Shocks: Evidence from the Fracking Revolution,

Feyrer, James, Erin T. Mansur, Bruce Sacerdote
  • American Economic Review, April 2017,
  • 2017
VIEW 1 EXCERPT

Similar Papers

Loading similar papers…