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Updating Probabilities for a Mineral Exploration Project

Author

Listed:
  • Bell, Peter

Abstract

This paper describes a mineral exploration project conducted by a junior mining company within a probabilistic framework. In particular, it shows how beliefs about a project can be updated in response to a series of new pieces of information about the project associated with exploration activities using subjective probabilities. Several alternative frameworks are briefly mentioned as ways to improve on this simplified model.

Suggested Citation

  • Bell, Peter, 2018. "Updating Probabilities for a Mineral Exploration Project," MPRA Paper 84457, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:84457
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    File URL: https://mpra.ub.uni-muenchen.de/84457/1/MPRA_paper_84457.pdf
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    More about this item

    Keywords

    Mineral Exploration; Subjective Probability; Uncertainty; Information;
    All these keywords.

    JEL classification:

    • C00 - Mathematical and Quantitative Methods - - General - - - General
    • C02 - Mathematical and Quantitative Methods - - General - - - Mathematical Economics
    • G1 - Financial Economics - - General Financial Markets

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