TY - BOOK ID - 137072328 TI - Petroleum exploration and production rights : allocation strategies and design issues AU - Tordo, Silvana. AU - Johnston, David AU - Johnston, Daniel. AU - World Bank. PY - 2010 SN - 1282422219 9786612422218 0821381687 PB - Washington, D.C. : World Bank, DB - UniCat KW - Petroleum industry and trade. KW - Petroleum KW - Prospecting. UR - https://www.unicat.be/uniCat?func=search&query=sysid:137072328 AB - Governments often pursue a variety of economic, social and political objectives through their allocation policies that go beyond the maximization of the net present value of the economic rent. The optimal allocation policy depends on a range of country specific and exogenous factors. Despite the variety of factors influencing optimal design, most countries use similar solutions. In particular, when auctions or administrative procedures are used, most governments opt for simple simultaneous multi-object sealed-bid rounds. While this may appear to be paradoxical, there is a practical explanation ER -