The title of this essay is taken, of course, from the Gurley/Shaw (1960) monograph to remind the reader at the outset that the objective of constructing a unified theory of money and finance is an old one, one that has challenged theorists at least since J.R. Hicks's (1935) "Suggestion." That the attainment of this objective is still regarded as part of an agenda for future research suggests th...

We construct the first constant time value approximation schemes (CTASs) for Metric and Quasi-Metric MAX-rCSP problems for any r ≥ 2 in a preprocessed metric model of computation, improving over the previous results of [FKKV05] proven for the general core-dense MAX-rCSP problems. They entail also the first sublinear approximation schemes for constructing approximate solutions of the above optim...

An acceptability measure is a number that summarizes information on monetary outcomes of a given position in various scenarios, and that, depending on context, may be interpreted as a capital requirement or as a price. In a multiperiod setting, it is reasonable to require that an acceptability measure should satisfy certain conditions of time consistency. Various notions of time consistency may...

This paper presents a discounted cash-flow approach to an inventory model for deteriorating items with the &#10two-parameter Weibull distribution. According to our proposed model, two shortages are considered: back-orders and lost-sales, &#10in which the back-order rate is a varying function of the time when the shortage happens. In general, the demand rate is a linear function of the selling p...

In this paper, a practical application of a valuation method that decouples the time value of money from the risk associated with the project is used to value an investment on a solar project. The proposed method is termed decoupled net present value (DNPV). A simple investment renewable energy project is presented using both the traditional NPV techniques and the proposed DNPV. The proposed me...