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- Title
Extraction of an Exhaustible Resource: The Effects on Investment of Several Parameters Being....
- Authors
Fraser, R.W.; Van Noorden, R.J.
- Abstract
This article shows that the effect on investment of the introduction of uncertainty about the size of one parameter depends on what other parameters are simultaneously uncertain. Further, two parameters may be linked with positive or negative covariances. The covariances are here shown to have important effects on the investor, whether risk neutral or risk averse. Governments are advised to consider policies that affect the covariances of those parameters that are key influences on investment.
- Subjects
NONRENEWABLE natural resources; INVESTMENTS; UNCERTAINTY; ECONOMICS
- Publication
Economic Record, 1983, Vol 59, Issue 167, p365
- ISSN
0013-0249
- Publication type
Article
- DOI
10.1111/j.1475-4932.1983.tb00826.x