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  2. Universität Konstanz
  3. Fachbereich Wirtschaftswissenschaften, Universität Konstanz
  4. Diskussionsbeiträge, Serie I: Volkswirtschaftliche Beiträge, Universität Konstanz
Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/78217 
Title: 

A simple model of optimal exploration for oil: Part 1

Authors: 
Deissenberg, Christophe
Year of Publication: 
1980
Series/Report no.: 
Diskussionsbeiträge - Serie A No. 151
Publisher: 
Universität Konstanz, Fakultät für Wirtschaftswissenschaften und Statistik, Konstanz
Abstract: 
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.
Subjects: 
Natural resources
oil exploration
stochastic control
Bayesian analysis
Document Type: 
Working Paper
Appears in Collections:
Diskussionsbeiträge, Serie I: Volkswirtschaftliche Beiträge, Universität Konstanz

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