Study aims to help governments maximize profits from oil and gas auctions
HOUSTON - (March 4, 2021) - Federal and state governments auction leases to oil and gas companies to extract natural resources from public land. A revamp of the auction system -- utilizing a new model developed by a Rice University economist -- could lead to more competitive bids and, ultimately, more money for governments.
Yunmi Kong, an assistant professor of economics at Rice and the study's author, discussed her model in "Sequential Auctions with Synergy and Affiliation Across Auctions." The article appeared in the January 2021 edition of the Journal of Political Economy.
"Much of the oil- and gas-producing ...




