A Basic Model for Capital Budgeting of Risky Interrelated Projects*
作者:
Frederick S. Hillier,
期刊:
The Engineering Economist
(Taylor Available online 1971)
卷期:
Volume 17,
issue 1
页码: 1-30
ISSN:0013-791X
年代: 1971
DOI:10.1080/00137917108902697
出版商: Taylor & Francis Group
数据来源: Taylor
摘要:
When evaluating proposals for capital investment, two important factors are risk and the effect of interrelationships of various kinds. This paper studies how to simultaneously take both considerations into account in order to determine the best overall combination of projects to approve. Adopting present value (treated as a random variable) and expected utility of present value as criteria, it focuses on a basic model developed in the author's monograph,The Evaluation of Risky Interrelated Investments, and extends it further in terms of formulation and interpretation needed for implementation.
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