On the Relationship between Exploration and Extraction

Robert Fraser

Australian Economic Papers, 1986, vol. 25, issue 46, 135-43

Abstract: This paper examines the behavior of a risk-neutral mining firm facing resource stock uncertainty. The particular emphasis of the paper is on the relationship between the firm's separate investment in the activities of exploration and extraction. The significance of this relationship is demonstrated in the context of its role in determining the effects of taxation policies on the firm's overall investment. It is thus argued that the evaluation of such policies should incorporate this relationship in order to be well formulated. Copyright 1986 by Blackwell Publishers Ltd/University of Adelaide and Flinders University of South Australia

Date: 1986
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Persistent link: https://EconPapers.repec.org/RePEc:bla:ausecp:v:25:y:1986:i:46:p:135-43

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