Federal Management of Energy and Mineral Resources on the Public Lands
Volume: Volume 11, No. 2
Issue: Autumn 1980
Pages: pp. 448-465
Authors: Thomas J. Teisberg
Title: Federal Management of Energy and Mineral Resources on the Public Lands
Abstract: 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.
JEL Classification
Industry Studies Extractive Industries Mining metal, coal, and other nonmetallic minerals (6322)
Natural Resources General (7210)
Energy (7230)