The Comparative Analysis Of The Estimation Of The Economic Effectiveness Of Mining Development Projects For The Continuous And Discrete Representation Of The Value Changes In Time

Estimation of the economic effectiveness of industrial development projects including mining ones is generally made on the basis of the discrete model of the value changes in time, although the character of these changes is similar to the continuous model. In this paper an attempt has been undertaken to investigate the problem of the value equivalence of both models exemplified by a construction of an underground coal mine. An effort has been made to determine the errors which for different estimation criteria appear in result of the application of the discrete model. Theoretical considerations have been supplemented with practical conclusions.