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Stochastic Investment Models and Decision Criteria

Søren Duus Østergaard
The Swedish Journal of Economics
Vol. 73, No. 2 (Jun., 1971), pp. 157-183
Published by: Wiley on behalf of The Scandinavian Journal of Economics
DOI: 10.2307/3439055
Stable URL: http://www.jstor.org/stable/3439055
Page Count: 27
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Stochastic Investment Models and Decision Criteria
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Abstract

The topic of this article is the problem of capital investment under uncertainty. The concept of decision making is discussed and a more general decision criterion is proposed. Various models suggested by differing authors are treated and some new ones, incorporating statistical decision theory and simulation techniques, are introduced to cope with the problems of accepting a single project as well as a multitude of interrelated projects.

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