LEADER 04485nam 22006015 450 001 9910254865903321 005 20251030103428.0 010 $a9781137446985 010 $a1137446986 024 7 $a10.1057/978-1-137-44698-5 035 $a(CKB)3710000001400422 035 $a(MiAaPQ)EBC4874792 035 $a(DE-He213)978-1-137-44698-5 035 $a(EXLCZ)993710000001400422 100 $a20170609d2016 u| 0 101 0 $aeng 135 $aurcnu|||||||| 181 $2rdacontent 182 $2rdamedia 183 $2rdacarrier 200 10$aAnomalies in Net Present Value, Returns and Polynomials, and Regret Theory in Decision-Making /$fby Michael C. I. Nwogugu 205 $a1st ed. 2016. 210 1$aLondon :$cPalgrave Macmillan UK :$cImprint: Palgrave Macmillan,$d2016. 215 $a1 online resource (336 pages) $cillustrations, tables 311 08$a9781137446978 311 08$a1137446978 320 $aIncludes bibliographical references at the end of each chapters. 327 $aChapter 1) Introduction -- Chapter 2) Spatio-Temporal Framing Anomalies in the NPV-MIRR-IRR Model and Related Approached, and Regret Theory -- Chapter 3) Regret Theory and Asset Pricing Anomalies in Incomplete Markets with Dynamic Un-aggregate Preferences -- Chapter 4) The Descartes Sign Rule and The Fourier-Budan Theorem are Wrong -- Chapter 5) MN-2 Invariants and Homomorphisms for Solving Polynomials; and Anomalies in The Binomial Theorem And The ?Fundamental Theorem Of Algebra -- Chapter 6) The Historical And Current Concepts Of ?Plain? Interest Rates and Forward Rates are, or Can Be, Misleading -- Chapter 7) On Algebraic Anomalies in Polynomials and Net Present Value Decisions -- Chapter 8) Some Biases And Evolutionary Homomorphisms Implicit in The Calculation Of Returns -- Chapter 9) Conclusion -- Chapter 10) References. 330 $aThis book explores why Internal Rate of Return (IRR) and Net Present Value (NPV) are not necessarily accurate or efficient tools for valuation and decision-making. The author specifically addresses the discounting biases and framing effects inherent in the NPV/MIRR/IRR model and in related approaches such as Adjusted Present Value (APV), Net Future Value (NFV) and by extension, Polynomials. In doing so, the book presents a new way of solving higher order polynomials using invariants and homomorphisms and explains why the ?Fundamental Theorem of Algebra?, the Binomial Theorem and the ?Descartes Sign Rule? are unreliable. Chapters also discuss how Intertemporal Asset Pricing Theory (IAPT) and Intertemporal Capital Asset Pricing Models (ICAPM) can produce inaccurate results in some circumstances. The conditions under which ICAPM and IAPT may be accurate are described; as well as why those conditions cannot, or are unlikely to exist. The conditions under which negative interest rates may exist or are justified are also outlined. Moreover, the author explains why traditional Consumption-Savings-Investment-Production models of allocation can be inefficient, and then introduces a new model of allocation that can be applied to individuals, households and companies. Finally, the book explains why the Elasticity of Intertemporal Substitution is a flawed concept and introduces the Marginal Rate of Intertemporal Joint Substitution. . 606 $aFinancial services industry 606 $aSocial sciences$xMathematics 606 $aBusiness enterprises$xFinance 606 $aEngineering mathematics 606 $aEngineering$xData processing 606 $aFinancial Services 606 $aMathematics in Business, Economics and Finance 606 $aCorporate Finance 606 $aMathematical and Computational Engineering Applications 615 0$aFinancial services industry. 615 0$aSocial sciences$xMathematics. 615 0$aBusiness enterprises$xFinance. 615 0$aEngineering mathematics. 615 0$aEngineering$xData processing. 615 14$aFinancial Services. 615 24$aMathematics in Business, Economics and Finance. 615 24$aCorporate Finance. 615 24$aMathematical and Computational Engineering Applications. 676 $a658.15 700 $aNwogugu$b Michael C. I.$4aut$4http://id.loc.gov/vocabulary/relators/aut$0870973 906 $aBOOK 912 $a9910254865903321 996 $aAnomalies in Net Present Value, Returns and Polynomials, and Regret Theory in Decision-Making$92100408 997 $aUNINA