Discussion of 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)

OSTI ID:5736534

Wiggans-Engelbrecht, R

This paper examines the relationship among models of the distribution of the number of bidders in an auction by considering an appropriate variation of the existing models. Uses the number of objects (e.g., offshore oil leases) and the average number of bids on a typical object as the parameters. Refutes the claim that the truncated version of the model provides a significantly better fit than the nontruncated version.

• Research Organization: University of Illinois
• OSTI ID: 5736534
• 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
CALCULATION METHODS
CONTINENTAL MARGIN
CONTINENTAL SHELF
DIFFERENTIAL EQUATIONS
EQUATIONS
GEOLOGIC DEPOSITS
LEASES
LEASING
MATHEMATICAL MODELS
MINERAL RESOURCES
NATURAL GAS DEPOSITS
PARTIAL DIFFERENTIAL EQUATIONS
PETROLEUM DEPOSITS
POISSON EQUATION
RESOURCES