Davis,G.A. and Moore,D.J.(1998): Valuing mineral reserves when capacity constrains production. Economics Letters, 60, 121-125.

『容量が生産を規制するときの鉱物埋蔵量を評価する』


Abstract
 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.

Keywords: Hotelling Valuation Principle; Capacity constraints; Mineral reserves』

1. Introduction
2. The general valuation principle
3. Conclusions
Acknowledgements
References


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