Modeling the number of bids received for outer continental shelf leases by Poisson-type models

Journal Article · Fri Jul 01 04:00:00 EDT 1983 · J. Pet. Technol.; (United States)

DOI:https://doi.org/10.2118/9724-PA· OSTI ID:5324544

Bruckner, L A; Nachtsheim, C J

Since 1954, the U.S. federal government has held hydrocarbon lease sales for areas on the Outer Continental Shelf (OCS). The U.S. DOE is charged with developing lease sale policies designed to increase competition on the offered tracts. Increased competition has been assumed synonymous with increased number of bids (NOB). To study the influence of alternative bidding systems on the number of bids received, a mixed Poisson-type model has previously been employed. The authors show why this model is not statistically supportable. A truncated model is proposed and is shown to be statistically justified for the number of solo bids over all sales and marginally supported for the number of joint bids on sales before the joint-bidding ban.

• Research Organization: Los Alamos Natl. Laboratory, Los Alamos, NM
• OSTI ID: 5324544
• Journal Information: J. Pet. Technol.; (United States), Journal Name: J. Pet. Technol.; (United States) Vol. 35:8; ISSN JPTJA
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
020700* -- Petroleum-- Economics
Industrial
& Business Aspects
03 NATURAL GAS
030600 -- Natural Gas-- Economic
Industrial
& Business Aspects
BIDS
COMPETITION
CONTINENTAL MARGIN
CONTINENTAL SHELF
DIFFERENTIAL EQUATIONS
EQUATIONS
EXPLORATION
GEOLOGIC DEPOSITS
GOVERNMENT POLICIES
LEASES
LEASING
MATHEMATICAL MODELS
MINERAL RESOURCES
NATIONAL ORGANIZATIONS
NATURAL GAS DEPOSITS
NORTH AMERICA
PARTIAL DIFFERENTIAL EQUATIONS
PETROLEUM DEPOSITS
POISSON EQUATION
RESOURCES
SALES
STATISTICAL MODELS
US DOE
US ORGANIZATIONS
USA