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THE ECONOMICS OF EXPLORATION FOR NON-RENEWABLE RESOURCESby: Robert D. Cairns
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AbstractThe literature on exploration for non-renewable resources is surveyed. Following a brief synopsis in section 2, section 3 focuses on issues related to the world market for resources. Section 4 considers more microeconomic supply-related issues linked to the exploration of the small region or play. Section 5 turns to the small but growing literature on exploration as a learning process related to R&D. The latter sections pay particular attention to empirical and policy aspects.
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