The impact of public policy on the mineral industries is difficult to measure due little short-term responsiveness changes by companies already investing in known fixed deposits. Nevertheless, early-stage (or grassroots) exploration has been suggested provide early signals about a policy. Among policies, taxation received plenty attention theoretical analysis and simulation studies, but empiric...

Disclosure: Prof Heinz Reichmann received research grants and compensation for his involvement on advisory boards and lectures from Abbott, Abbvie, Bayer Health Care, BIAL, Boehringer/Ingelheim, Brittania, Cephalon, Desitin, GSK, Lundbeck, Medtronic, Merck-Serono, Novartis, Orion, Pfizer, TEVA, UCB Pharma, Valeant, and Zambon. Prof Werner Poewe has received honoraria for lectures and consultanc...