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An Evaluation of Two Alternative Supply Models of Natural Gas
Two natural gas models currently used to forecast the response of exploration and production to well head price deregulation are examined. These models are based on the same theoretical exploration and discovery process, but differ in the estimation of this process.One model is purely econometric wh...
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Published in: | Bell Journal of Economics 1977-04, Vol.8 (1), p.289-302 |
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container_title | Bell Journal of Economics |
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description | Two natural gas models currently used to forecast the response of exploration and production to well head price deregulation are examined. These models are based on the same theoretical exploration and discovery process, but differ in the estimation of this process.One model is purely econometric while the other combines econometric and engineering elements. Each model has been simulated over the historical period 1965-1972 and the forecast period 1975-1980.While the historical simulations are quite similar, the forecasts are not. Reasons for the forecast differences are given. |
doi_str_mv | 10.2307/3003500 |
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language | eng |
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source | International Bibliography of the Social Sciences (IBSS); EBSCOhost Econlit with Full Text; JSTOR Archival Journals and Primary Sources Collection |
subjects | Commercial production Drilling Econometrics Economic forecasting models Economic modeling Economic models Error rates Evaluation Forecasting models Modeling Natural gas supply Short Articles Statistical forecasts |
title | An Evaluation of Two Alternative Supply Models of Natural Gas |
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