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The Cost of OCS Bid Rejection

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  • Paul R. Kobrin

Abstract

The U.S. Interior Department periodically offers Outer Continental Shelf (OCS) tracts for lease at seated bid auction. The bid variable typically is the bonus, a sum paid by the lessee at commencement of the lease. A tract is awarded only to the high bidder. However, the seller often deems even the high bid insufficient, rejecting it and withholding the tract for possible laterauction.

Suggested Citation

  • Paul R. Kobrin, 1986. "The Cost of OCS Bid Rejection," The Energy Journal, International Association for Energy Economics, vol. 0(Number 1), pages 83-97.
    • Handle: RePEc:aen:journl:1986v07-01-a06
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    JEL classification:

    • F0 - International Economics - - General

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