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 presents a cash-flow measure, namely the ratio of...

This paper proposes a method for evaluating a project under certainty by means of a systemic outlook, which borrows from accounting the way of representing economic facts while replacing accounting values with cash values. The investor's net worth is regarded as a system whose structure changes...

In Jiang's (2017, JAI, 9 (4): 77–91), the author proposes an interesting metric, which is a special case of Average Internal Rate of Return (AIRR), introduced in Magni (2010). In the paper, the author also deals with Economic AIRR (EAIRR) (Magni 2013) and ICM-based AROI (Magni 2011, Altshuler...