{"product_id":"9781137446978","title":"Anomalies in Net Present Value, Returns and Polynomials, and Regret Theory in Decision-Making","description":"\u003ch1\u003eAnomalies in Net Present Value, Returns and Polynomials, and Regret Theory in Decision-Making\u003c\/h1\u003e \u003ch2\u003eNwogugu, Michael C. I.\u003c\/h2\u003e \u003cp\u003e\u003c\/p\u003e\u003cp\u003eThis book explores why Modified  Internal Rate of Return (MIRR) and Net Present Value (NPV) are not necessarily  accurate or efficient tools for valuation and decision-making. The author  specifically addresses the 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 new ways 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 International  Asset Pricing Theory (IAPT) and Intertemporal Capital Asset Pricing  Models (ICAPM) can produce inaccurate results in certain 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  whichnegative 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 \u003ci\u003eElasticity of Intertemporal Substitution\u003c\/i\u003e  is a flawed concept and introduces the \u003ci\u003eMarginal  Rate of Intertemporal Joint Substitution \u003c\/i\u003eas a solution. \u003c\/p\u003e \u003ch3\u003eDetails\u003c\/h3\u003e \u003cp\u003ePublished by: Palgrave Macmillan\u003c\/p\u003e \u003cp\u003ePublication Date: 2017-06-21\u003c\/p\u003e \u003cp\u003eFormat: Hardcover\u003c\/p\u003e \u003cp\u003eISBN-13: 9781137446978\u003c\/p\u003e \u003cp\u003eDOI: 10.1057\/978-1-137-44698-5\u003c\/p\u003e \u003cp\u003eDimensions: 210.0cm x148.0cm\u003c\/p\u003e \u003cp\u003ePages: 327.0\u003c\/p\u003e ","brand":"Palgrave Macmillan UK","offers":[{"title":"Default Title","offer_id":44752398581900,"sku":"9781137446978","price":152.99,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0710\/9545\/1788\/files\/9781137446978.jpg?v=1762352810","url":"https:\/\/lateknightbooks.com\/products\/9781137446978","provider":"Late Knight Books and Services, LLC","version":"1.0","type":"link"}