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Federal management of energy and mineral resources on the public lands

Journal Article · · Bell J. Econ.; (United States)
DOI:https://doi.org/10.2307/3003373· OSTI ID:6437933

This paper develops a model of optimal timing in the exploration and development of mineral deposits. The model is used to analyze Federal public lands mineral-resource-management systems and to offer some rules for optimal administration within those systems. In particular, it is shown that there are optimal financial terms which, together with an open-access policy and strict-diligence enforcement, are theoretically capable of producing efficient timing in both exploration and development of mineral deposits on the public lands. 10 references, 1 table.

Research Organization:
Massachusetts Inst. of Tech., Cambridge
OSTI ID:
6437933
Journal Information:
Bell J. Econ.; (United States), Journal Name: Bell J. Econ.; (United States) Vol. 11:2; ISSN BJECD
Country of Publication:
United States
Language:
English