Magni, Carlo Alberto - 2011
The recent notion of Average Internal Rate of Return (AIRR) [Magni 2010, The Engineering Economist, 55(2), 150 …-180] completely solves the long-standing problem of the internal rate of return (IRR). While the AIRR is a return measure, this paper … depend on the market rate, and is a return measure, for it is a mean of one-period return rates, weighed by the outstanding …