Template-Type: ReDIF-Article 1.0
Author-Name:  Graham A. Davis 
Author-Name:  Robert D. Cairns
Title:  Simple Analytics of Valuing Producing Petroleum Reserves
Classification-JEL: F0
Pages:  133-142
Volume:  Volume19
Issue:  Number 4
Year:  1998
Abstract:  We  modify the approach to valuing mineral reserves that is current in economic literature by considering a net present-value rule under uncertainty. Direct application of Hotelling's rule is found to be inappropriate. The modification is such that the present value is approximately half that proposed by the Hotelling Valuation Principle.
Handle: RePEc:aen:journl:1998v19-04-a06
File-URL: http://www.iaee.org/en/publications/ejarticle.aspx?id=1297
File-Format: text/html
File-Restriction: Access to full text is restricted to IAEE members and subscribers.