强化复习贴现净现值的计算,更加关注风险和不确定性

IF 0.9 4区 经济学 Q3 ECONOMICS
Maggie Foley, Shuangjin Wang
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引用次数: 0

摘要

贴现现值 (DPV) 计算已出现在教科书以及大量同行评审的期刊文章中。这些文章涉及各种各样的主题/问题,从移民、教育追求、新工厂和设备投资到 NFL 选秀,不一而足。几年前,《哈佛商业评论》(Harvard Business Review)发表了盖洛关于 DPV(和 NPV)的推导和使用的讨论,认识到 DPV 概念对于估值和智能决策而言是用途广泛、非常有用的工具。本说明扩展并更正了盖洛的分析,使其更加准确,对读者更加有用。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
An enhanced refresher on discounted net present value computations with an additional focus on risk and uncertainty

Discounted present value (DPV) calculations have appeared in textbooks as well as numerous peer-reviewed journal articles. Such articles address a wide variety of topics/issues, ranging from migration to educational pursuit to investment in new plant and equipment to the NFL draft. Recognizing the remarkably versatile and useful tools that the DPV concepts are to valuation and intelligent decision-making, some years ago, the Harvard Business Review published a discussion by Gallo of the derivation and uses of DPVs (and NPVs). This note extends and corrects the analysis in Gallo so as to make it more accurate and useful to the reader.

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来源期刊
CiteScore
1.90
自引率
12.50%
发文量
39
期刊介绍: The American Journal of Economics and Sociology (AJES) was founded in 1941, with support from the Robert Schalkenbach Foundation, to encourage the development of transdisciplinary solutions to social problems. In the introduction to the first issue, John Dewey observed that “the hostile state of the world and the intellectual division that has been built up in so-called ‘social science,’ are … reflections and expressions of the same fundamental causes.” Dewey commended this journal for its intention to promote “synthesis in the social field.” Dewey wrote those words almost six decades after the social science associations split off from the American Historical Association in pursuit of value-free knowledge derived from specialized disciplines. Since he wrote them, academic or disciplinary specialization has become even more pronounced. Multi-disciplinary work is superficially extolled in major universities, but practices and incentives still favor highly specialized work. The result is that academia has become a bastion of analytic excellence, breaking phenomena into components for intensive investigation, but it contributes little synthetic or holistic understanding that can aid society in finding solutions to contemporary problems. Analytic work remains important, but in response to the current lop-sided emphasis on specialization, the board of AJES has decided to return to its roots by emphasizing a more integrated and practical approach to knowledge.
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