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- Title
VALUATION UNDER UNCERTAINTY: COMMENT.
- Authors
Robichek, Alexander A.; Myers, Stewart C.
- Abstract
A response by Alexander A. Robicheck and Stewart C. Myers to an article that was written by Houng-Yhi Chen about their article "Conceptual Problems in the Use of Risk-Adjusted Discount Rates" in the December 1966 issue is presented. The authors argue that Chen's assertion that their use of a risk-adjusted discount rate is unfounded. They counter that discounting expected returns in a risk adjusted environment shows that expected returns will increase in risk. Otherwise, they state that the algebra used by both parties is similar.
- Subjects
UNCERTAINTY; DISCOUNT prices; CAPITAL budget; ECONOMICS; HOUNG-Yhi Chen
- Publication
Journal of Financial & Quantitative Analysis, 1968, Vol 3, Issue 4, p479
- ISSN
0022-1090
- Publication type
Article
- DOI
10.2307/2329587