A simple model of optimal exploration for oil ; Pt. 1

Based on empirical evidence, a simple model of oil exploration and discovery is deyeloped, which emphasizes the stochastics of the discovery process and its informational aspects. Open-loop-feedback, m-measurement-feedback and closed-loop optimal exploratory strategies are derived. In forthcoming Part II, the model behaviour when interfaced with a market mechanism will be analysed.

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Year of publication:	1980
Authors:	Deissenberg, Christophe
Institutions:	Universität Konstanz / Fakultät für Wirtschaftswissenschaften und Statistik (contributor)
Published in:	A simple model of optimal exploration for oil ; Pt. 1
Publisher:	Konstanz : Univ. Konstanz, Fak. für Wirtschaftswiss. und Statistik
Subject:	Natural resources \| oil exploration \| stochastic control \| Bayesian analysis \| Theorie \| Theory \| Ressourcenökonomik \| Resource economics \| Erdölgewinnung \| Petroleum extraction \| Exploration \| Mineral exploration \| Erdölvorkommen \| Petroleum resources \| Bayes-Statistik \| Bayesian inference \| Stochastischer Prozess \| Stochastic process \| Natürliche Ressourcen

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Extent:	27 S. 4°
Type of publication:	Book / Working Paper
Language:	English
Other identifiers:	hdl:10419/78217 [Handle]
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10009512638