Optimal Resource Extraction Contracts Under Threat of Expropriation
---- Acknowledgements -----
We thank William Hogan and Federico Struzenegger for proposing this research topic, and Richard Zeckhauser for an insightful discussion of the first version of this paper, presented at the Populism and Natural Resource Workshop held at Harvard in November 2007. We also thank William Nordhaus and workshop participants for comments and suggestions. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.