Weitzman (1998) showed that when future interest rates are uncertain, using the expected net present value implies a term structure of discount rates that is decreasing to the smallest possible interest rate. On the contrary, using the expected net future value criteria implies an increasing term structure of discount rates up to the largest possible interest rate. We reconcile the two approach...

In the growing literature on importance of household balance sheets to macroeconomic developments, relationship between housing wealth and fiscal outturns needs consideration given likely links market developments particular tax headings. We adopt net worth model for this purpose. Using a panel dataset 18 European countries over period 1998 2017, we find changes in having significant impact pri...

While there is a hereditary component to tori, this does not explain all cases. Tori tend to appear more frequently during middle age of life; the torus palatinus is more commonly observed in females, but this is not the case with the torus mandibularis. Certain ethnic groups are more prone to one torus or the other. The torus is mainly removed due to prostodontic reasons, as it may also be use...

In this paper we study whether central banks should react to financial sector variables in their policy rules. We find that responding to asset prices has no impact and does not increase the likelihood of equilibrium indeterminacy. However, a response to entrepreneurial net worth increases the likelihood of determinacy in current and forward-looking policy rules.

Studies of the association between wealth and fertility in industrial populations have a rich history in the evolutionary literature, and they have been used to argue both for and against a behavioral ecological approach to explaining human variability. We consider that there are strong arguments in favor of measuring fertility (and proxies thereof) in industrial populations, not least because ...

The Resource-constrained Project Scheduling Problem (Rcpsp), in which a schedule must obey resource constraints and precedence constraints between pairs of activities, is one of the most studied scheduling problems. An important variation of this problem (RcpspDc) is to find a schedule which maximises the net present value (discounted cash flow). Large industrial applications can require thousa...

Improvement and expansion of the transmission grid is still an unresolved issue in the new competitive environment. In current electricity markets, transmission lines have become assets that need financial instruments for investors who wish to ensure steady long-term returns and to withstand short-term market volatility. The timing and the combination of new transmission investments is key to a...

The applicability of Net Present Value (NPV) in an investment project is becoming more and more popular in the field of engineering economics. The classical NPV methodology involves only the precise and accurate data of the investment project. In the present communication, we give a new mathematical model for NPV which uses the concept of intuitionistic fuzzy set theory. The proposed model is b...