Uranium and nuclear Power: The role of exploration information in framing public policy
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.
|Date of creation:||2013|
|Contact details of provider:|| Postal: Manor Road, Oxford, OX1 3UQ|
Web page: https://www.oxcarre.ox.ac.uk/
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Lucas W. Davis, 2012.
"Prospects for Nuclear Power,"
Journal of Economic Perspectives,
American Economic Association, vol. 26(1), pages 49-66, Winter.
- Lucas W. Davis, 2011. "Prospects for Nuclear Power," NBER Working Papers 17674, National Bureau of Economic Research, Inc.
- 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.
- 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.
- Paul Milgrom & Robert J. Weber, 1981. "The Value of Information in a Sealed-Bid Auction," Discussion Papers 462, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- 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.
- 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.
- 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.
- 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.
- Mason, Charles F., 1985. "Learning from exploration information : The case of uranium," Resources and Energy, Elsevier, vol. 7(3), pages 243-257, September.
- 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.
- 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)
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: (Celia Kingham)
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.