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Governments design taxation schemes to capture resource rent. However, they usually propose contracts with limited duration and possess less information on the resources than the extractive firms do. This paper investigates how information asymmetry on costs and an inability to commit to long-term contracts affect tax revenue and the extraction path. This paper assumes that governments maximize the tax revenue contingent on the quantity extracted. This study gives several unconventionalfatcat:4q2n4ko2yrh77mgxqyrkeh3niq