Grantee Research Project Results
Valuing the Stock and Flow of Mineral and Renewable Assets in National Income Accounting
EPA Grant Number: R824705Title: Valuing the Stock and Flow of Mineral and Renewable Assets in National Income Accounting
Investigators: Davis, Graham
Institution: Colorado School of Mines
EPA Project Officer: Hahn, Intaek
Project Period: October 1, 1995 through September 30, 1997
Project Amount: $101,000
RFA: Valuation and Environmental Policy (1995) RFA Text | Recipients Lists
Research Category: Environmental Justice
Description:
This project will advance the field of environmental asset valuation so that additions to and depletion of natural resources may be accurately included in national economic accounts. The project specifically focuses on the valuation of mineral and energy resources. The broad objectives of the project are to assess and critique the existing methods of valuing commercial mineral resources and to improve upon and supplement these methods by producing valuation methodologies that take into account price, stock, and development timing uncertainty. The new valuation methods will be applied to both proved/produced and unproved/nonproduced commercial mineral and energy resources.The methods to be employed consist of modifications to existing valuation formulations, such as the Hotelling Valuation Principle, and the application of a new valuation technique known as multinomial option pricing of real assets. The valuation tools that are developed will be both more accurate and cover a more comprehensive list of assets than previous valuations.
Supplemental Keywords:
RFA, Scientific Discipline, Economic, Social, & Behavioral Science Research Program, Economics & Decision Making, Economics, decision-making, Social Science, Ecology and Ecosystems, benefits assessment, public values, multi-objective decision making, public resources, ecosystem valuation, national income account, community involvement, renewable resources, environmental values, public policy, multinominal option pricing, decision analysis, valuation, minerals, conservation, environmental assetsProgress and Final Reports:
The perspectives, information and conclusions conveyed in research project abstracts, progress reports, final reports, journal abstracts and journal publications convey the viewpoints of the principal investigator and may not represent the views and policies of ORD and EPA. Conclusions drawn by the principal investigators have not been reviewed by the Agency.