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Uranium and nuclear power: The role of exploration information in framing public policy

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  • Mason, Charles F.

Abstract

As the importance of addressing climate change increases the future global role for nuclear power, the demand for uranium will increase. Expanded uranium reserves will be needed to meet this increased demand, highlighting the importance of future exploratory efforts. To shed light on the social desirability of future exploration levels I analyze a past expansionary period in the U.S. uranium industry. I find exploration levels were smaller than socially efficient during this period, resulting from a deviation between the private and social values of information. Looking forward, public policies can encourage optimal exploration levels by addressing this deviation.

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  • Mason, Charles F., 2014. "Uranium and nuclear power: The role of exploration information in framing public policy," Resource and Energy Economics, Elsevier, vol. 36(1), pages 49-63.
    • Handle: RePEc:eee:resene:v:36:y:2014:i:1:p:49-63
    DOI: 10.1016/j.reseneeco.2013.11.009
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    References listed on IDEAS

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    1. Lucas W. Davis, 2012. "Prospects for Nuclear Power," Journal of Economic Perspectives, American Economic Association, vol. 26(1), pages 49-66, Winter.
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    Cited by:

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    2. Castillo, Emilio & Roa, Cintia, 2021. "Defining geological maturity: The effect of discoveries on early-stage mineral exploration," Resources Policy, Elsevier, vol. 74(C).
    3. Emilio Castillo, 2020. "Mineral Exploration and the Discovery of New Deposits," Working Papers 2020-06, Colorado School of Mines, Division of Economics and Business.

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    More about this item

    Keywords

    Exploration; Learning; Nuclear power; Uranium; Value of information;
    All these keywords.

    JEL classification:

    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
    • L72 - Industrial Organization - - Industry Studies: Primary Products and Construction - - - Mining, Extraction, and Refining: Other Nonrenewable Resources
    • Q31 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Demand and Supply; Prices
    • Q42 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Alternative Energy Sources
    • Q48 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Government Policy

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