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- Title
Holistic investment assessment: optimization, risk appraisal and decision making.
- Authors
Tziralis, Georgios; Kirytopoulos, Konstantinos; Rentizelas, Athanasios; Tatsiopoulos, Ilias
- Abstract
On deciding for the most appropriate investment when capital restrictions exist, investors define their alternatives and analyze each one of them. Traditionally, the definition, appraisal and analysis stages are treated separately. Herein, an innovative holistic method is proposed for bridging these stages. Within this method, investment attributes definition occurs by genetic algorithm optimization, while the analysis of the investment is realized through simulation. The method also proposes the NPV Expected Shortfall and the NPV Risk Preference Index as investment evaluation criteria. An illustrative case study of two mutually exclusive renewable energy investment scenarios is also used for demonstration purposes. Copyright © 2008 John Wiley & Sons, Ltd.
- Subjects
CAPITAL investments; RENEWABLE energy sources; DECISION making; INVESTORS; GENETIC algorithms; SIMULATION methods &; models
- Publication
Managerial & Decision Economics, 2009, Vol 30, Issue 6, p393
- ISSN
0143-6570
- Publication type
Article
- DOI
10.1002/mde.1458