Economic Analysis: Theory and Practice

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Economic Analysis: Theory and Practice

13(142) – 2009 May

Interval and probabilistic approach to appraisal of investment project in conditions of uncertainty

Vol. 8, Iss. 13, MAY 2009

Available online: 29 September 2009

Subject Heading: The investment policy

JEL Classification:

Weisblatt B.I. doctor of technical sciences, professor of the department “Venture management”, Nizhniy Novgorod branch of the State university – Higher School of economics

Antonyan G.V. Nizhniy Novgorod branch of State University – Higher School of Economics ;

Realization of an investment project as a rule is effected in conditions of uncertainty. The most suitable method is uncertainly interval method based on the theory of uncertain multitudes. To appraise this method the expert should formalize his ideas about possible values of a parameter of an investment project being appraised in terms of assignment of a characteristic function (membership function) of multitude of values which it may accept.
Finding the characteristic function of output parameter of investment project using the indicated method is quite complex and lengthy procedure.

Keywords: appraisal, approach, project, conditions, uncertainty, investments, method, possibility, function, membership, multitude, term, parameter, procedure

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ISSN 2311-8725 (Online)
ISSN 2073-039X (Print)

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