Risk Sensitive Value Measure Method

Name: Risk Sensitive Value Measure Method
Price: 191.55 AUD
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ISBN: 9789819808557

A New Method Of Project Evaluation

Yoshio Miyahara (Nagoya City Univ, Japan)

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Hardback

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English

World Scientific Publishing Co Pte Ltd
01 August 2025

Economics & Business; Probability & statistics

Series: Advances In Statistics, Probability And Actuarial Science

Summary
Details

What is the most effective method for project evaluation? While the standard Net Present Value (NPV) method is widely used for its simplicity, it has notable limitations: it insufficiently accounts for the random complexity of cash flows and fails to capture the flexibility inherent in project execution.

This book introduces an innovative evaluation method designed to address these shortcomings. It begins by analyzing the evaluation of random variables, representing the Random Present Values (RPVs) of cash flows, and identifies the optimal evaluation functional for RPVs. Through this analysis, the concave monetary value measure — or concave monetary utility function — emerges as the most suitable tool.

The study is then extended to dynamic value measures, leading to the conclusion that the risk-sensitive value measure is the most robust approach for project evaluation. Practical applications of this method are thoroughly explored, offering valuable insights for tackling real-world project evaluation challenges.

By: Yoshio Miyahara (Nagoya City Univ Japan)
Imprint: World Scientific Publishing Co Pte Ltd
Country of Publication: Singapore
Volume: 3
ISBN: 9789819808557
ISBN 10: 9819808553
Series: Advances In Statistics, Probability And Actuarial Science
Pages: 284
Publication Date: 01 August 2025
Audience: College/higher education , Professional and scholarly , Primary , Undergraduate
Format: Hardback
Publisher's Status: Active