Exploration Economics in a Fat-Tailed World: Evidence from Global VMS Deposits
Abstract
This paper studies mineral exploration under fat-tailed geological uncertainty using global VMS deposit data. It shows how extreme outcomes dominate expected value calculations. The findings challenge standard exploration heuristics based on normal distributions.
Fields of Study & Subjects
Capital Investment and Risk Analysis
Mining Techniques and Economics
Mining and Resource Management
Publication details
- Journal / source
- Munich Personal RePEc Archive (Ludwig Maximilian University of Munich)
- Publication date
- 27 January 2026
- Language
- EN