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Present value criterion: the case of differing borrowing and lending rates

  • Liu, Liqun
  • Rettenmaier, Andrew J.
  • Saving, Thomas R.
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    File URL: http://www.sciencedirect.com/science/article/B6V84-4CJ483Y-1/2/5a00fe959161ea2b3d02ef3f931d1b26
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    Article provided by Elsevier in its journal Economics Letters.

    Volume (Year): 84 (2004)
    Issue (Month): 3 (September)
    Pages: 427-432

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    Handle: RePEc:eee:ecolet:v:84:y:2004:i:3:p:427-432
    Contact details of provider: Web page: http://www.elsevier.com/locate/ecolet

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    1. Daniel Teichroew & Alexander A. Robichek & Michael Montalbano, 1965. "An Analysis of Criteria for Investment and Financing Decisions Under Certainty," Management Science, INFORMS, vol. 12(3), pages 151-179, November.
    2. J. Hirshleifer, 1958. "On the Theory of Optimal Investment Decision," Journal of Political Economy, University of Chicago Press, vol. 66, pages 329.
    3. Ramsey, James B, 1970. "The Marginal Efficiency of Capital, the Internal Rate of Return and Net Present Value: An Analysis of Investment Criteria," Journal of Political Economy, University of Chicago Press, vol. 78(5), pages 1017-27, Sept.-Oct.
    4. Bernhard, Richard H. & Norstrøm, Carl J., 1980. "A Further Note on Unrecovered Investment, Uniqueness of the Internal Rate, and the Question of Project Acceptability," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 15(02), pages 421-423, June.
    5. Oehmke, James F., 2000. "Anomalies in net present value calculations," Economics Letters, Elsevier, vol. 67(3), pages 349-351, June.
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