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Valuation Under Uncertainty: Comment
Published online by Cambridge University Press: 19 October 2009
Extract
In “Valuation Under Uncertainty,” which recently appeared in this Journal (September 1967), Houng-Yhi Chen argues [1, pp. 313–314] that “Robichek and Myers' criticism [2, 3] of the use of the risk-adjusted discount rate is unfounded,” and suggests that our “conclusions must be based in part on a misunderstanding of the risk-adjusted discount rate method.” These charges are without foundation, as we will show here.
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- Copyright © School of Business Administration, University of Washington 1968
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