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Holistic investment assessment: optimization, risk appraisal and decision making

✍ Scribed by Georgios Tziralis; Konstantinos Kirytopoulos; Athanasios Rentizelas; Ilias Tatsiopoulos

Publisher: John Wiley and Sons
Year: 2009
Tongue: English
Weight: 257 KB
Volume: 30
Category: Article
ISSN: 0143-6570
DOI: 10.1002/mde.1458

No coin nor oath required. For personal study only.

✦ Synopsis

Abstract

On deciding for the most appropriate investment when capital restrictions exist, investors define their alternatives and analyze each one of them. Traditionally, the definition, appraisal and analysis stages are treated separately. Herein, an innovative holistic method is proposed for bridging these stages. Within this method, investment attributes definition occurs by genetic algorithm optimization, while the analysis of the investment is realized through simulation. The method also proposes the NPV Expected Shortfall and the NPV Risk Preference Index as investment evaluation criteria. An illustrative case study of two mutually exclusive renewable energy investment scenarios is also used for demonstration purposes. Copyright © 2008 John Wiley & Sons, Ltd.

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