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Helium: Investments in the Future
Dennis Epple and Lester Lave
The Bell Journal of Economics
Vol. 11, No. 2 (Autumn, 1980), pp. 617-630
Published by: RAND Corporation
Stable URL: http://www.jstor.org/stable/3003383
Page Count: 14
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This article develops and implements a method for evaluating an exhaustible resource (helium) whose rate of production is governed by the rate of production of a second exhaustible resource (natural gas). We determine optimum future price and consumption paths, optimal production rates from various sources, and optimal storage policies for a number of scenarios. We conduct a sensitivity analysis to find which of several possible storage policies performs best for a variety of demand growth rates and discount rates.
The Bell Journal of Economics © 1980 RAND Corporation