Abstract
In this paper we will examine the effects of uncertainty of investment costs on the expected gain and budget allocation of a decision-maker. These effects are studied using the relationship between riskiness and stochastic dominance. Results and examples are provided for the case of budgeting one project. Furthermore, the problem of centralized vs. non-centralized budget allocation for n identically independent distributed projects is discussed.
Original language | English |
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Pages (from-to) | B273-B280 |
Journal | Mathematical Methods of Operations Research |
Volume | 27 |
Issue number | 1 |
DOIs | |
State | Published - 1 Dec 1983 |
ASJC Scopus subject areas
- Software
- Mathematics (all)
- Management Science and Operations Research