Extracting information or resource? The Hotelling rule revisited under asymmetric information.

Abstract: A concessionaire has private information on the initial stock of resource. A “virtual Hotelling rule” describes how the resource price evolves over time and how extraction costs are compounded with information costs along the optimal extraction path. Fields which are heterogeneous in terms...

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Bibliographic Details

Published in:	RAND Journal of Economics (Wiley-Blackwell) Vol. 49; no. 2; pp. 311 - 348
Main Authors:	Martimort, David, Pouyet, Jérôme, Ricci, Francesco
Format:	Article
Published:	Wiley-Blackwell Summer2018
Subjects:	Resource exploitation Concessions (Administrative law) Municipal franchises Mining leases Royalties trading
Online Access:	View this record in EBSCOhost