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Behind the black box: a survey of real-world investment appraisal approaches

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  • Michelle Baddeley

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  • Michelle Baddeley, 2006. "Behind the black box: a survey of real-world investment appraisal approaches," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 33(5), pages 329-350, December.
    • Handle: RePEc:kap:empiri:v:33:y:2006:i:5:p:329-350
    DOI: 10.1007/s10663-006-9020-1
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    References listed on IDEAS

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    1. Neild, R. R., 1964. "Replacement Policy," National Institute Economic Review, National Institute of Economic and Social Research, vol. 30, pages 30-43, November.
    2. Dwyer, Gerald P, Jr, et al, 1993. "Tests of Rational Expectations in a Stark Setting," Economic Journal, Royal Economic Society, vol. 103(418), pages 586-601, May.
    3. Pindyck, Robert S, 1991. "Irreversibility, Uncertainty, and Investment," Journal of Economic Literature, American Economic Association, vol. 29(3), pages 1110-1148, September.
    4. Avinash K. Dixit & Robert S. Pindyck, 1994. "Investment under Uncertainty," Economics Books, Princeton University Press, edition 1, number 5474.
    5. Myron J. Gordon, 1955. "The Payoff Period and the Rate of Profit," The Journal of Business, University of Chicago Press, vol. 28, pages 253-253.
    6. J. M. Keynes, 1937. "The General Theory of Employment," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 51(2), pages 209-223.
    7. Abel, Andrew B, 1983. "Optimal Investment under Uncertainty," American Economic Review, American Economic Association, vol. 73(1), pages 228-233, March.
    8. Kay, John A, 1976. "Accountants, Too, Could Be Happy in a Golden Age: The Accountant's Rate of Profit and the Internal Rate of Return," Oxford Economic Papers, Oxford University Press, vol. 28(3), pages 447-460, November.
    9. Kydland, Finn E & Prescott, Edward C, 1977. "Rules Rather Than Discretion: The Inconsistency of Optimal Plans," Journal of Political Economy, University of Chicago Press, vol. 85(3), pages 473-491, June.
    10. Pesaran, M.H., 1990. "Expectations In Economics," Cambridge Working Papers in Economics 9016, Faculty of Economics, University of Cambridge.
    11. N/A, 1964. "Replacement Policy," National Institute Economic Review, National Institute of Economic and Social Research, vol. 30(1), pages 30-43, November.
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    Citations

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    Cited by:

    1. Baddeley, M., 2011. "A Behavioural Analysis of Online Privacy and Security," Cambridge Working Papers in Economics 1147, Faculty of Economics, University of Cambridge.
    2. Baddeley, M. & Burke, C. & Schultz, W. & Tobler, P., 2012. "Herding in Financial Behaviour: A Behavioural and Neuroeconomic Analysis of Individual Differences," Cambridge Working Papers in Economics 1225, Faculty of Economics, University of Cambridge.
    3. Baddeley, Michelle & Parkinson, Sophia, 2012. "Group decision-making: An economic analysis of social influence and individual difference in experimental juries," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 41(5), pages 558-573.
    4. Michelle Baddeley & Geoff Harcourt, 2021. "A Behavioural Model of Investment Appraisal and its Implications for the Macroeconomy," Working Paper Series 2021/05, Economics Discipline Group, UTS Business School, University of Technology, Sydney.
    5. Michelle Baddeley, 2014. "Rethinking the micro-foundations of macroeconomics: insights from behavioural economics," European Journal of Economics and Economic Policies: Intervention, Edward Elgar Publishing, vol. 11(1), pages 99-112, April.

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    More about this item

    Keywords

    Fixed investment; Expectations; Rationality; Investment appraisal; D21; D8; L20;
    All these keywords.

    JEL classification:

    • D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory
    • D8 - Microeconomics - - Information, Knowledge, and Uncertainty
    • L20 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - General

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