) CAPM capital budgeting decision-making based on disequilibrium NPV is deductively inferred by the Capital Asset Pricing … Model, (ii) the use of the disequilibrium NPV is widespread in finance both as a decision rule and as a valuation tool, (iii …) the disequilibrium NPV does not guarantee additivity nor consistency with arbitrage pricing, so that it is unreliable for …

This article explains why the housing and commercial real estate market are in a permanent disequilibrium. The real …

notions of disequilibrium NPV and economic profit are not equivalent if the standard NPV+CAPM is employed: NPV-minded agents … standard notion of disequilibrium (present) value, deductively derived from the CAPM by several authors, should therefore be …

This paper presents a simple disequilibrium model in the primary housing market, calibrated to the Warsaw market. Our … aim is to point out that the primary housing market, due to the long construction process is always in disequilibrium …, which has important policy implications. We discuss the last housing cycle and show how a combination of slight demand …

operate in disequilibrium,search and information costs become very important.Trafficking in drugs taken as case, to explore … understanding of the problem and based on that,effective policy formulation and enforcement.We find that psycho …

capital, where the latter depends on the project’s disequilibrium systematic risk. It is shown that the disequilibrium net …