Reserve asset values and the "hotelling valuation principle"
The Hotelling Valuation Principle, that the in-situ value of a mineral unit equals the current net price, is a special case of a more general relation. Tested against a set of recent Canadian sales of oil and gas reserves, the HVP is strongly rejected. The method permits also a demonstration that pr...
| Main Authors: | , |
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| Format: | Working Paper |
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MIT Center for Energy and Environmental Policy Research
2009
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| Online Access: | http://hdl.handle.net/1721.1/50175 |
| _version_ | 1826209922824536064 |
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| author | Adelman, Morris Albert Watkins, G. C. |
| author_facet | Adelman, Morris Albert Watkins, G. C. |
| author_sort | Adelman, Morris Albert |
| collection | MIT |
| description | The Hotelling Valuation Principle, that the in-situ value of a mineral unit equals the current net price, is a special case of a more general relation. Tested against a set of recent Canadian sales of oil and gas reserves, the HVP is strongly rejected. The method permits also a demonstration that price expectations were quite different in oil and in gas, confirming industry opinion. |
| first_indexed | 2024-09-23T14:35:37Z |
| format | Working Paper |
| id | mit-1721.1/50175 |
| institution | Massachusetts Institute of Technology |
| last_indexed | 2024-09-23T14:35:37Z |
| publishDate | 2009 |
| publisher | MIT Center for Energy and Environmental Policy Research |
| record_format | dspace |
| spelling | mit-1721.1/501752019-04-12T23:31:04Z Reserve asset values and the "hotelling valuation principle" Adelman, Morris Albert Watkins, G. C. The Hotelling Valuation Principle, that the in-situ value of a mineral unit equals the current net price, is a special case of a more general relation. Tested against a set of recent Canadian sales of oil and gas reserves, the HVP is strongly rejected. The method permits also a demonstration that price expectations were quite different in oil and in gas, confirming industry opinion. 2009-12-15T23:56:47Z 2009-12-15T23:56:47Z 1992 Working Paper 92004 http://hdl.handle.net/1721.1/50175 28596223 Working paper (Massachusetts Institute of Technology. Center for Energy Policy Research) ; MIT-CEPR 92-004. 12 p application/pdf MIT Center for Energy and Environmental Policy Research |
| spellingShingle | Adelman, Morris Albert Watkins, G. C. Reserve asset values and the "hotelling valuation principle" |
| title | Reserve asset values and the "hotelling valuation principle" |
| title_full | Reserve asset values and the "hotelling valuation principle" |
| title_fullStr | Reserve asset values and the "hotelling valuation principle" |
| title_full_unstemmed | Reserve asset values and the "hotelling valuation principle" |
| title_short | Reserve asset values and the "hotelling valuation principle" |
| title_sort | reserve asset values and the hotelling valuation principle |
| url | http://hdl.handle.net/1721.1/50175 |
| work_keys_str_mv | AT adelmanmorrisalbert reserveassetvaluesandthehotellingvaluationprinciple AT watkinsgc reserveassetvaluesandthehotellingvaluationprinciple |