Oil producing countries' discount rates
The small LDCs which own the great bulk of oil resour- ces are rational agents and calculate with short horizons and high discount rates. They have pre-commitments to spend much (or even more than all) of their incomes, hence behave like highly leveraged corporations. They are also undiversi...
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| Format: | Working Paper |
| Language: | en_US |
| Published: |
MIT Energy Lab
2005
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| Online Access: | http://hdl.handle.net/1721.1/27262 |