Estimates of Marginal Discovery Costs for Oil and Gas
Previous estimates of the finding costs for oil and natural gas reserves have been impeded by the joint-cost problem in exp loration. The solutions have been to either estimate the finding cost for an oil-gas aggregate or to allocate total finding costs between oil discoveries and gas discoveries according to rules chosen by the researcher. In this paper, the joint-cost problem is circumvented by estimating a multiple-output, exploration cost function which is used to calculate the predicted values of marginal finding costs for oil and gas. These values are then compared to independent estimates of t he shadow prices of reserves for oil and gas to help settle the debat e over whether marginal finding costs provide a good measure of rent.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 21 (1988)
Issue (Month): 2 (May)
|Contact details of provider:|| Postal: |
Web page: http://economics.ca/cje/Email:
More information through EDIRC
|Order Information:|| Web: http://economics.ca/en/membership.php Email: |
When requesting a correction, please mention this item's handle: RePEc:cje:issued:v:21:y:1988:i:2:p:379-93. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Prof. Werner Antweiler)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.