The internal rate of return (IRR) is generally considered inferior to the net present value (NPV) as a tool for evaluating and ranking projects, despite its inherently useful comparability to the cost of capital and the return of other investment opportunities. We introduce the ‘‘selective IRR’’, a return criterion which, as a selection of an extended set of possible IRRs, is NPV-consistent. Th...

The notion of Net Present Value (NPV) is thought to formally translate the notion of economic profit, where the discount rate is the cost of capital. The latter is the expected rate of return of an equivalent-risk alternative that the investor might undertake and is often found by making recourse to the Capital Asset Pricing Model. This paper shows that the notions of disequilibrium NPV and eco...

In this paper the multi-mode resource-constrained project scheduling problem with discounted cash flows is considered. Minimizing the makespan and maximization the net present value (NPV) are the two common objectives that have been investigated in the literature. We apply one evolutionary algorithm named multiobjective particle swarm optimization (MOPSO) to find Pareto front solutions. We used...

I study the optimal choice of investment projects in a continuous-time moral hazard model with multitasking. While in the first best, projects are invariably chosen by the net present value (NPV) criterion, moral hazard introduces a cutoff for project selection which depends on both a project’s NPV as well as its risk-return ratio. The cutoff shifts dynamically depending on the past history of ...

I study the optimal choice of investment projects in a continuous time moral hazard model with multitasking. While in the first best, projects are invariably chosen by the net present value (NPV) criterion, moral hazard introduces a cutoff for project selection which depends on both a project’s NPV as well as its signal to noise ratio (SN). The cutoff shifts dynamically depending on the past hi...

This paper reviews researches on net present value done by researchers in the past 25 years to summarize research results and put forward limitations. Although investment decision guided possesses a long history investors use it widely current financial market, author believes that still has of being discussed studied. After comprehensive review, is found years, focused comparing its advantages...

In the paper a model of non-financial investment profitability calculation is presented. It based on concept quantile risk measures and real option valuation. Application Monte Carlo simulation allows to receive probability distribution Net Present Value (NPV) implement like Cash Flow at Risk (CFaR), (NPVaR) or Expected Shortfall (ES) in relation NPV (ES (NPV)). The main contribution article im...

As more subsurface drip irrigation (SDI) systems are being installed throughout the plains of Texas for cotton production, irrigators are concerned about the high cost of installation and the potential benefits of alternative designs. A field study was conducted at the Texas AgriLife Research facilities at Halfway, Texas, to document the agronomic impacts of distribution uniformities on cotton ...

In this paper we present a management model to deal with the problem of tracking missing features during long image sequences using Computational Vision. Some usual difficulties related with missing features are that they may be temporarily occluded or might even have disappeared definitively, and the computational cost involved should always be reduced to the strictly necessary. The proposed N...