Mathematical Analysis of Rates of Return Under Certainty

Daniel Teichroew, Alexander A. Robichek and Michael Montalbano
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Daniel Teichroew: Case Institute of Technology, Cleveland, Ohio
Alexander A. Robichek: Stanford University, Stanford, California
Michael Montalbano: International Business Machines Corporation and Industrial Research Fellow (1963-1964), Graduate School of Business, Stanford University

Management Science, 1965, vol. 11, issue 3, 395-403

Abstract: The purpose of this paper is to prove certain properties of the present and future values of a sequence of cash flows which have applications in the theory of capital budgeting. This is done in Theorems III, IV and V. As an introduction, certain previously available results about the present value function are stated and proved as Theorems I and II. A summary of the relevance of these results in capital budgeting is given in the Summary.

Date: 1965
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Persistent link: https://EconPapers.repec.org/RePEc:inm:ormnsc:v:11:y:1965:i:3:p:395-403

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