haku: @author Berk, J. / yhteensä: 3
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| Tekijä: | Berk, J. |
| Otsikko: | A simple approach for deciding when to invest |
| Lehti: | American Economic Review
1999 : DEC, VOL. 89:5, p. 1319-1326 |
| Asiasana: | ECONOMICS INVESTMENT DECISION MAKING |
| Kieli: | eng |
| Tiivistelmä: | It has long been recognized that the simple net present value (NPV) rule for deciding whether to invest in a project provides an unambiguously correct answer only under certain conditions. The object of this paper is to derive a practical investment rule by restricting attention to projects for which no resolution of uncertainty about the distribution of the cash flows is expected. In this case, the simple NPV rule needs only a small adjustment to incorporate the option to delay. |
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