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The Cost of OCS Bid Rejection

Author

Listed:
  • 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 later auction.

Suggested Citation

  • Paul R. Kobrin, 1986. "The Cost of OCS Bid Rejection," The Energy Journal, , vol. 7(1), pages 83-98, January.
    • Handle: RePEc:sae:enejou:v:7:y:1986:i:1:p:83-98
    DOI: 10.5547/ISSN0195-6574-EJ-Vol7-No1-6
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