The budgeting problem of a searching firm |
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| Authors: | D J Jankowski K C Brown M A Kochanski and F T Sparrow |
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| Institution: | (1) Institute for Interdisciplinary Engineering Studies, Purdue University, A. A. Potter Center, 47907 West Lafayette, Indiana, USA |
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| Abstract: | This paper explores factors to be taken into consideration in determining the optimal exploration budget for a mining company readying itself for detail work within a mineral province. Optimal strategy is shown to be a combination of results from recent conventional  reservation value stopping rules and optimal expenditure models appearing earlier in the literature. |
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| Keywords: | optimal search exploration budget |
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