IDEAS home Printed from https://ideas.repec.org/p/oxf/oxcrwp/104.html
   My bibliography  Save this paper

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

Author

Listed:
  • Charles F Mason

Abstract

An addressing climate change becomes a high priority it seems likely that there will be a surge in interest in deploying nuclear power. Other fuel bases are too dirty (coal), too expensive (oil, natural gas) or too speculative (solar, wind) to completely supply the energy needs of the global economy. To the extent that the global society does in fact choose to expand nuclear power there will be a need for additional production. That increase in demand for nuclear power will inevitably lead to an increase in demand for uranium. While some of the increased demand for uranium will be satisfied by expanding production from existing deposits, there will undoubtedly be pressure to find and develop new deposits, perhaps quite rapidly. Looking forward, it is important that policies be put in place that encourage an optimal allocation of future resourcs towards exploration. In particular, I argue there is a valid concern that privately optial levels of industrial activity wilol fail to fully capture all potential social gains; these sub-optimal exploration levels are linked to a departure between the private and social values of exploration information.

Suggested Citation

  • Charles F Mason, 2013. "Uranium and nuclear Power: The role of exploration information in framing public policy," OxCarre Working Papers 104, Oxford Centre for the Analysis of Resource Rich Economies, University of Oxford.
  • Handle: RePEc:oxf:oxcrwp:104
    as

    Download full text from publisher

    File URL: http://www.oxcarre.ox.ac.uk/files/OxCarreRP2013104.pdf
    Download Restriction: no

    Other versions of this item:

    References listed on IDEAS

    as
    1. Lucas W. Davis, 2012. "Prospects for Nuclear Power," Journal of Economic Perspectives, American Economic Association, vol. 26(1), pages 49-66, Winter.
    2. Mason, Charles F., 1989. "Exploration information and AEC regulation of the domestic uranium industry," Journal of Economic Dynamics and Control, Elsevier, vol. 13(3), pages 421-448, July.
    3. Milgrom, Paul & Weber, Robert J., 1982. "The value of information in a sealed-bid auction," Journal of Mathematical Economics, Elsevier, vol. 10(1), pages 105-114, June.
    4. Pindyck, Robert S, 1978. "The Optimal Exploration and Production of Nonrenewable Resources," Journal of Political Economy, University of Chicago Press, vol. 86(5), pages 841-861, October.
    5. Swierzbinski, Joseph E. & Mendelsohn, Robert, 1989. "Information and exhaustible resources: A Bayesian analysis," Journal of Environmental Economics and Management, Elsevier, vol. 16(3), pages 193-208, May.
    6. Mason, Charles F., 1986. "Exploration, information, and regulation in an exhaustible mineral industry," Journal of Environmental Economics and Management, Elsevier, vol. 13(2), pages 153-166, June.
    7. Grossman, Sanford J & Stiglitz, Joseph E, 1976. "Information and Competitive Price Systems," American Economic Review, American Economic Association, vol. 66(2), pages 246-253, May.
    8. Mason, Charles F., 1985. "Learning from exploration information : The case of uranium," Resources and Energy, Elsevier, vol. 7(3), pages 243-257, September.
    9. Victor P. Goldberg, 1977. "Competitive Bidding and the Production of Precontract Information," Bell Journal of Economics, The RAND Corporation, vol. 8(1), pages 250-261, Spring.
    10. Isaac, R. Mark, 1987. "The value of information in resource exploration: The interaction of strategic plays and institutional rules," Journal of Environmental Economics and Management, Elsevier, vol. 14(4), pages 313-322, December.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Uranium and nuclear power; climate change; uranium; public policy;

    JEL classification:

    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy
    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
    • H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • Q33 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Resource Booms (Dutch Disease)

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:oxf:oxcrwp:104. 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: (Antonella Surdi). General contact details of provider: http://edirc.repec.org/data/oxcaruk.html .

    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 CitEc recognized a reference but did not link an item in RePEc 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 RePEc Author Service 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.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.