Auger, Felipe; Ignacio Guzmán, Juan - In: Resources Policy 35 (2010) 4, pp. 292-300
This paper examines ex-post 51 investment decisions made in regard to copper mines coming on stream from 1957 through 1999. It discusses two critical variables: investment timing and mine capacity choice. Using a 15% discount rate, results suggest that fewer than half of decisions were made at...