Journal of the Japanese Association for Petroleum Technology
Online ISSN : 1881-4131
Print ISSN : 0370-9868
ISSN-L : 0370-9868
Review
Returns and risks in the petroleum business
—comparison of existing risk evaluation methods—
Masazumi Inoue, Tsutau Takeuchi
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Keywords: Allais' paradox, CAPM, certain equivalent, expected utility theory, prospect theory, return, risk, Sharpe ratio, St. Petersburg's paradox, uncertainty, utility
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2010 Volume 75 Issue 3 Pages 211-222

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Abstract
The petroleum business, especially exploration is characterized by its extremely high risk nature. Firstly in this review, the key concepts and terms such as return, risk and uncertainty are clearly defined. Then, the existing risk evaluation methods are critically reviewed in terms of their strength and weakness in relation to their application to petroleum business.
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© 2010 The Japanese Association for Petroleum Technology
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