Investments Viewed As Growth Processes
作者:
HALİM DOĞRUSÖZ,
NEJAT KARABAKAL,
期刊:
The Engineering Economist
(Taylor Available online 1995)
卷期:
Volume 41,
issue 1
页码: 1-25
ISSN:0013-791X
年代: 1995
DOI:10.1080/00137919508967472
出版商: Taylor & Francis Group
数据来源: Taylor
摘要:
For modeling investment decision situations, we present a mathematical basis that views the cash flow sequences as growth processes. We first emphasize the pedagogical value of the basic model by showing that all traditionally established measures of worth (profitability) as well as the compound interest formulas of financial mathematics can actually be derived from it by simple algebraic manipulations. Then, we argue that the traditional measures fail to recognize the particularities of certain decision situations and point out the need for developing tailor made measures for each specific problem. We demonstrate, using real life examples, our approach for developing new measures and, by incorporating decision variables, practical optimization models from this mathematical basis.
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