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Exponential utility functions aid upstream decision making

机译:指数效用函数有助于上游决策

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摘要

Although the concepts and mathematics of utility theory and its application to adjusting valuations to reflect the perspectives of decision makers with a range of risk preferences have been established for decades, these concepts and numerical applications remain relatively rarely applied by decision makers in the upstream gas and oil industries. Utility functions are now extensively used to assist evaluation of oil and gas hedging and trading of financial and physical commodities from the risk preferences of the parties involved. This study makes the case for more extensive use of utility functions in the upstream gas and oil sectors by presenting cases that highlight both the conceptual and valuation benefits that result from their application.
机译:虽然效用理论的概念和数学及其在调整估值以反映具有各种风险偏好的决策者观点的应用已经建立了数十年,但决策者在上游天然气和天然气中仍然很少使用这些概念和数值应用。石油工业。现在,实用程序功能已广泛用于协助根据相关方的风险偏好评估油气对冲以及金融和实物商品的交易。这项研究通过介绍一些案例来强调公用事业功能在上游天然气和石油行业中的广泛使用,这些案例着重强调了其应用所带来的概念和评估收益。

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