Abstract
Statistical analysis of bids for federal offshore leases shows that the relative magnitude of the high bid and the amount of ″money left on the table″ each varies with number of bids in a way that is predictable. Joint bidders tend to bid on leases receiving more bids and higher bonuses per acre than do solo bidders. Further, joint bidders tend to bid higher than the geometric mean bid for the trace more often than solo bidders. Also, winning bids submitted by joint bidders tend to have a higher relative standard deviation than do winning bids submitted by solo bidders.
| Original language | English |
|---|---|
| Pages (from-to) | 1377-1390 |
| Number of pages | 14 |
| Journal | JPT, Journal of Petroleum Technology |
| Volume | 28 |
| DOIs | |
| State | Published - 1976 |
ASJC Scopus subject areas
- Fuel Technology
- Industrial relations
- Energy Engineering and Power Technology
- Strategy and Management
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