OCS Leasing Policy and Lease Prices
研究了美国外大陆架石油租赁政策从提名制改为全区制后，对租赁价格和拍卖结果的影响，对关注能源政策与拍卖设计的学者有参考价值。
The rights to explore and develop the petroleum reserves of the Outer Continental Shelf (OCS) are sold to private companies via sealed auction. The is a cash payment or bonus bid paid to the government in exchange for the right to drill.' Until April 1983, the auctions were organized according to a set of procedures known as nomination and tract selection. Under these rules, potential bidders would nominate tracts of land that they wanted to on. The Minerals Management Service (MMS) of the Department of the Interior would select tracts from those nominated, evaluate them to determine a reservation price or presale value, and offer them for lease. After April 1983, the Department of the Interior implemented a new set of procedures known as leasing. Instead of relying on bidders to nominate tracts of land, MMS began to offer vast areas of OCS land at each sale. The result was a large increase in the number of tracts offered for sale in areawide sales