Score contribution per author:
α: calibrated so average coauthorship-adjusted count equals average raw count
In this paper, we study the interactions between a public body and several potential concession holders. We propose a dynamic stochastic optimization problem providing the optimal exercise price of the “expropriation” option, which safeguards the social interest from over-exploitation of the resource. Other crucial quantities are also determined, such as the optimal value of the option and the condition for mutual convenience to enter the deal. We apply the model to a Southern Italy oilfield finding that the deal was in the common interest and that the optimal expropriation value is quite high.