Incorporating uncertainty in optimal investment decisions

Rentizelas, A; Tziralis, G; Kirytopoulos, K

dc.contributor.author	Rentizelas, A	en
dc.contributor.author	Tziralis, G	en
dc.contributor.author	Kirytopoulos, K	en
dc.date.accessioned	2014-03-01T01:26:28Z
dc.date.available	2014-03-01T01:26:28Z
dc.date.issued	2007	en
dc.identifier.issn	17460573	en
dc.identifier.uri	https://dspace.lib.ntua.gr/xmlui/handle/123456789/18090
dc.subject	GA	en
dc.subject	Genetic algorithms	en
dc.subject	Investment appraisal	en
dc.subject	MCS	en
dc.subject	Monte Carlo simulation	en
dc.subject	Project management	en
dc.subject	Risk analysis	en
dc.title	Incorporating uncertainty in optimal investment decisions	en
heal.type	journalArticle	en
heal.identifier.primary	10.1504/WREMSD.2007.014046	en
heal.identifier.secondary	http://dx.doi.org/10.1504/WREMSD.2007.014046	en
heal.publicationDate	2007	en
heal.abstract	Investment decisions are now more crucial than ever. The investors are in need of sound arguments, which will be able to shape the investment specifications and appraise their uncertain nature. This paper proposes an innovative approach that merges optimisation and risk analysis in one single method. The two-step investment appraisal approach reaches an optimum through a Genetic Algorithm optimisation and then assesses the environment's risk through a Monte Carlo simulation. The approach, thus, offers the best investment characteristics, as well as information about its implied risk. The use of the method is illustrated through an extensive Case Study. Copyright © 2007 Inderscience Enterprises Ltd.	en
heal.journalName	World Review of Entrepreneurship, Management and Sustainable Development	en
dc.identifier.doi	10.1504/WREMSD.2007.014046	en
dc.identifier.volume	3	en
dc.identifier.issue	3-4	en
dc.identifier.spage	273	en
dc.identifier.epage	283	en