Valuing mineral reserves when capacity constrains production

被引:13
作者
Davis, GA [1 ]
Moore, DJ [1 ]
机构
[1] Colorado Sch Mines, Div Econ & Business, Golden, CO 80401 USA
关键词
Hotelling Valuation Principle; capacity constraints; mineral reserves;
D O I
10.1016/S0165-1765(98)00080-9
中图分类号
F [经济];
学科分类号
02 ;
摘要
We add a capacity constraint and heterogeneous reserves to the Hotelling Valuation Principle. This produces a more general version of the principle that is more consistent with empirical valuations, while retaining the underlying relationship between net price and reserve value. (C) 1998 Elsevier Science S.A.
引用
收藏
页码:121 / 125
页数:5
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