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Reserve asset values and the "hotelling valuation principle"

Author(s)
Adelman, Morris Albert; Watkins, G. C.
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Abstract
The Hotelling Valuation Principle, that the in-situ value of a mineral unit equals the current net price, is a special case of a more general relation. Tested against a set of recent Canadian sales of oil and gas reserves, the HVP is strongly rejected. The method permits also a demonstration that price expectations were quite different in oil and in gas, confirming industry opinion.
Date issued
1992
URI
http://hdl.handle.net/1721.1/50175
Publisher
MIT Center for Energy and Environmental Policy Research
Other identifiers
92004
Series/Report no.
Working paper (Massachusetts Institute of Technology. Center for Energy Policy Research) ; MIT-CEPR 92-004.

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