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Field
Abstract
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Before
We will study a pre-existing natural policy experiment from the 1970's and 1980's where oil and gas leases in Wyoming BLM land were allocated via lottery. We will examine the effect that winning a lottery has on lottery winners. One outcome variables we will examine is whether the winner ever appears later on as a lease holder for any other BLM land. We will examine this separately for lottery entrants that were firms and lottery entrants that were individuals. The second outcome variable we will examine is whether the lottery entrant participated in M&A activity -- e.g., whether it merged with another firm. This will only be examined for lottery entrants that are firms.
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After
We will study a pre-existing natural policy experiment from the 1970's and 1980's where oil and gas leases in Wyoming BLM land were allocated via lottery. We will examine the effect that winning a lottery has on lottery winners. One outcome variables we will examine is whether the winner ever appears later on as a lease holder for any other Wyoming BLM land and/or whether the winner appears as a well operator in Wyoming. We will examine this separately for lottery entrants that were firms and lottery entrants that were individuals. The second outcome variable we will examine is whether the lottery entrant participated in M&A activity -- e.g., whether it merged with another firm. This will only be examined for lottery entrants that are firms.
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