Did Iraq Cheat the United Nations? Underpricing, Bribes, and the Oil for Food Program
研究1997至2003年联合国石油换食品计划期间，伊拉克通过故意低价出售石油以索取贿赂的行为，估计其通过低价获取了13亿美元贿赂，占石油收入的2%。
From 1997 through 2003, the UN Oil for Food Program allowed Iraq to export oil for humanitarian supplies. We hypothesize that Iraq deliberately set the price of its oil below market prices to solicit bribes from oil buyers. By comparing the price gap between Iraqi oil and its close substitutes during the Program to the gap prior to the Program, we find evidence of significant underpricing. Our central estimate suggests that Iraq collected $1.3 billion in bribes from underpricing its oil, or 2 percent of oil revenues. Underpricing is higher during periods of high volatility in oil markets—when detection is more difficult—but declines after the UN limited Iraq's ability to set the price of its oil.