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dc.contributor.author Bailey, Emily
dc.date.accessioned 2012-04-16T17:35:11Z
dc.date.available 2012-04-16T17:35:11Z
dc.date.issued 2012-04-16
dc.identifier.uri http://hdl.handle.net/10161/5144
dc.description Honors Thesis en_US
dc.description.abstract Unitization, a common but not omnipresent policy that is lauded in both the economics and environmental worlds for its efficiency, attempts to solve the “tragedy of the commons” common pool failure of oil production by creating a system in which all those with interests in one reserve produce jointly and split profits accordingly. This paper empirically demonstrates what other researchers have hypothesized – that unitization reduces the elasticity of supply with respect to price. It then extrapolates to potential impacts this policy could have on the environment at large by forecasting a future production path based on the model from the previous section. Finally, it demonstrates how unitization could slow the accumulation of greenhouse gases in the atmosphere. en_US
dc.subject Oil Reserves en_US
dc.subject Oil Production en_US
dc.subject Unitization en_US
dc.subject Climate Change en_US
dc.subject Alaska en_US
dc.subject Oil en_US
dc.title UNITIZATION OF OIL RESERVES IN ALASKA AND THE SUPPLY ELASTICITY OF A COMMON POOL RESOURCE en_US
dc.department Economics en_US

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