Abstract
A petroleum-exporting nation in which a state oil company has a major role should seriously consider what discount rate, or shadow price, it should apply for future oil revenues. The present chapter addresses this problem, but does not give a definitive answer with respect to methods or numbers. Rather I shall discuss various approaches. I shall try to get the questions right, and to answer some of them. I refer to some Norwegian institutions, but I believe the discussion is useful for other nations with non-comprehensive stock markets as well.
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Lund, D. (1990). Social discount rates for Norwegian oil projects under uncertainty. In: Bjerkholt, O., Olsen, Ø., Vislie, J. (eds) Recent Modelling Approaches in Applied Energy Economics. International Studies in Economic Modelling. Springer, Dordrecht. https://doi.org/10.1007/978-94-011-3088-2_9
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DOI: https://doi.org/10.1007/978-94-011-3088-2_9
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