This paper deals with capital budgeting decisions under uncertainty. We present an Aggregate Return On Investment (AROI …), obtained as the ratio of total (undiscounted) cash flow to total invested capital and show that it is a genuine rate of return … ranks any bundle of different-risk competing projects. Relations with other criteria such as Modified Internal Rate of …

Internal Rate of Return (AIRR) is presented, which overcome all the IRR difficulties. In particular, the AIRR approach enables … to prove that (1) a project is not uniquely associated with a return rate, but with a return function, which maps … aggregate capitals to rates of return; (2) any definition of rate of return appearing in the (past and) future literature is a …

The properties of information, including "information uncertainty", can be understood only Bayesianly. Common … formulations that define information uncertainty in terms of just statistical "precision" (i.e. sampling variance), or any one … affecting f(x|φ,⋅), information uncertainty alters posterior beliefs f(φ|x,⋅), and therefore also asset prices and expected …

interest rate uncertainty on investment decision. When the interest rate is low an increase in interest rate volatility … shadow rate is substantially below the bound, the decision to invest or wait no longer depends on interest rate uncertainty …This paper examines irreversible investment decisions when the interest rate is stochastic and constrained by a zero …

other asset markets. These premiums have their roots in fundamentals and will vary as a function of uncertainty about the … economy, the risk aversion of investors, information uncertainty and fear of catastrophe, among other factors. In practice …

scaling method derives Single correlations from Class. Return expectations are split into an interest rate part and a spread …

The internal rate of return (IRR) is often used by managers and practitioners for investment decisions. Unfortunately …) the IRR is, in general, incompatible with the net present value (NPV) in accept/reject decisions (iv) the IRR ranking is …, in general, different from the NPV ranking, (v) the IRR criterion is not applicable with variable costs of capital (vi …