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Fiscal regime uncertainty, risk aversion, and exhaustible resource depletion

Subtitle:
OIES paper: EE3
Abstract:

How does uncertainty about future rent tax liability affect the competitive supply pattern for an exhaustible resource? Historically, changes in tax and regulatory clauses have been a frequent occurrence in the Petroleum industry, and appear to have contributed to the climate of uncertainty about future rent appropriation. This paper develops a generally applicable framework to tackle this question.

The analysis modifies the classic Hotelling problem of exhaustible resource manageme...

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Publication status:
Published
Peer review status:
Reviewed (other)
Version:
Publisher's version

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Institution:
University of Oxford
Research group:
Oxford Institute for Energy Studies
Role:
Author
Publisher:
Oxford Institute for Energy Studies Publisher's website
Publication date:
1987-01-01
URN:
uuid:0dca1961-96ec-44e5-add5-136d5dc07280
Local pid:
ora:10223
ISBN:
0-948061-19-7

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