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Well-Behaved Cash Flows

Author

Listed:
  • Saak, Alexander
  • Hennessy, David A.

Abstract

Internal rate of return and net present value statistics for evaluating projects may display anomalous behavior when cash flows change sign more than once. We identify necessary and sufficient conditions such that these anomalies are precluded. We also identify a linear dominance condition on payoffs sufficient to order internal rates.

Suggested Citation

  • Saak, Alexander & Hennessy, David A., 2001. "Well-Behaved Cash Flows," Staff General Research Papers Archive 5111, Iowa State University, Department of Economics.
    • Handle: RePEc:isu:genres:5111
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    Cited by:

    1. Hennessy, David A. & Saak, Alexander E., 2003. "State-Contingent Demand for Herbicide-Tolerance Seed Trait," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 28(01), pages 1-14, April.
    2. Feng, Hongli, 2005. "The dynamics of carbon sequestration and alternative carbon accounting, with an application to the upper Mississippi River Basin," Ecological Economics, Elsevier, vol. 54(1), pages 23-35, July.

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