A Myopic Capital Budgeting Model**

William T. Ziemba

Journal of Financial and Quantitative Analysis, 1969, vol. 4, issue 3, 305-327

Abstract: The classic 1955 paper of Lorie and Savage has stimulated the development of mathematical programming approaches to the analysis of capital budgeting problems. A problem that they considered has been succinctly stated as:given the net present value of a set of independent investment alternatives, and given the required outlays for the projects in each of two time periods, find the subset of projects which maximizes the total net present value of the accepted ones while simultaneously satisfying a constraint on the outlays in each of the two periods.

Date: 1969
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