题目：The Effect of Production Information on the Choices of Lease Locations: a Study of the Marcellus Shale
主讲人：郭文殊 暨南大学
时间：11月7日13:30-15:00
地点：理科大楼A302（中北校区）
摘要：
In November 2010,the Pennsylvania government began posting well-specific production data of the Marcellus Shale.The information reveals the shale gas reserve distribution.This paper studies the effect of the production information disclosure on the shale gas operators’choices of lease locations. A theoretical model is proposed, in which firms sequentially choose the location with the highest expected return by conducting Bayesian updating about the locations’output potentials, with their prior beliefs adjusted by the production data.The model is empirically examined using a novel dataset.Outcomes show that the production information shifts firms’target leases towards more productive regions,leading to higher efficiency of the shale gas firms’resource allocation.
讲座人简介：郭文殊，2012年毕业于香港大学，获得经济与金融学士学位，2018年毕业于加州大学洛杉矶分校，获博士学位。研究方向为产业经济学与应用微观理论。