Portfolio Decision Analysis : Improved Methods for Resource Allocation

edited by Ahti Salo, Jeffrey Keisler, Alec Morton

"Portfolio Decision Analysis: Improved Methods for Resource Allocation" provides an extensive, up-to-date coverage of decision analytic methods which help firms and public organizations allocate resources to 'lumpy' investment opportunities while explicitly recognizing relevant financial and non-financial evaluation criteria and the presence of alternative investment opportunities. In particular, it discusses the evolution of these methods, presents new methodological advances and illustrates their use across several application domains. This book offers a many-faceted treatment of p

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Year of publication:	2011
Authors:	Salo, Ahti A.
Other Persons:	Keisler, Jeffrey (contributor) ; Morton, Alec (contributor)
Publisher:	New York, NY : Springer Science+Business Media, LLC
Subject:	Entscheidungstheorie \| Decision theory \| Allokation \| Allocation \| Portfolio-Management \| Portfolio selection \| Investitionsentscheidung \| Investment decision \| Theorie \| Theory \| Portfoliomanagement
Description of contents:	Table of Contents [external.dandelon.com] ; Description [zbmath.org]

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Extent:	Online-Ressource v.: digital
Series:	International Series in Operations Research & Management Science ; 162
Type of publication:	Book / Working Paper
Language:	English
Notes:	Includes bibliographical references and index Portfolio Decision Analysis; Foreword; Acknowledgments; Contents; Contributors; Part I Preliminaries; Chapter 1An Invitation to Portfolio Decision Analysis; 1.1 What Is Portfolio Decision Analysis?; 1.2 Evolution of Portfolio Decision Analysis; 1.2.1 Financial Portfolio Optimization; 1.2.2 Capital Budgeting Models; 1.2.3 Quantitative Models for Project Selection; 1.2.4 Decision Analysis; 1.2.5 From Decision Analysis to Portfolio Decision Analysis; 1.3 Contributions in this Book; 1.3.1 Preliminaries; 1.3.2 Theory; 1.3.3 Applications; 1.4 Perspectives for the Future 1.4.1 Embedding PDA in Organizational Decision Making1.4.2 Extending PDA Theory, Methods and Tools; 1.4.3 Expanding the PDA Knowledge Base; References; Chapter 2Portfolio Decision Quality; 2.1 Introduction; 2.2 Decision Portfolios; 2.3 Decision Quality; 2.4 Portfolio Decision Quality; 2.4.1 Framing; 2.4.2 Alternatives; 2.4.3 Information; 2.4.4 Values; 2.4.5 Logical Synthesis; 2.4.6 Commitment and Implementation; 2.4.7 Interacting Levels of Analysis; 2.5 Valuing Portfolio Decision Quality; 2.5.1 Four Discrete Levels of Portfolio Decision Quality 2.5.2 Modeling the Value of Higher Quality Information2.5.3 Modeling the Value of Higher Quality Alternatives; 2.5.4 Modeling the Value of Higher Quality on Values; 2.5.5 Modeling the Value of Considering Synergies; 2.5.6 Discussion of Model Results; 2.6 Cost of Analysis and Organizational Requirements; 2.7 Observations from Practice and from Other Research; 2.8 Research Agenda; 2.9 Conclusions; References; Chapter 3The Royal Navy's Type 45 Story: A Case Study; 3.1 Introduction; 3.2 Background; 3.3 Method; 3.3.1 The Initial Meetings and Workshops; 3.3.2 The Prioritisation Model 3.3.3 The Decision Conferences3.4 Results; 3.4.1 Cost and Benefit Criteria; 3.4.2 Results of the Preliminary Decision Conference; 3.4.3 Results of the Decision Conference; 3.5 Discussion; 3.6 Conclusions; References; Part II Methodology; Chapter 4Valuation of Risky Projects and Illiquid Investments Using Portfolio Selection Models; 4.1 Introduction; 4.2 Integrated Portfolio Selection Models for Projects and Securities; 4.2.1 Basic Model Structure; 4.2.2 Types of Preference Models; 4.2.3 Single-Period Example Under Expected Utility; 4.3 Valuation of Projects and Illiquid Investments 4.3.1 Breakeven Buying and Selling Prices4.3.2 Inverse Optimization Procedure; 4.3.3 General Analytical Properties; 4.3.3.1 Sequential Consistency; 4.3.3.2 Consistency with Contingent Claims Analysis; 4.3.3.3 Sequential Additivity; 4.4 Valuation of Opportunities; 4.4.1 Investment Opportunities; 4.4.2 Real Options and Managerial Flexibility; 4.4.3 Opportunity to Sell the Project to Third Party Investor; 4.5 Implementation of Multiperiod Project Valuation Model; 4.5.1 Framework; 4.5.2 Model Components; 4.5.2.1 States; 4.5.2.2 Investment Decisions; 4.5.2.3 Cash Flows and Cash Surpluses 4.5.3 Optimization Model Electronic reproduction; Available via World Wide Web
ISBN:	978-1-4419-9943-6 ; 978-1-283-35148-5 ; 978-1-4419-9942-9
Other identifiers:	10.1007/978-1-4419-9943-6 [DOI]
Classification:	Investition, Finanzierung
Source:	ECONIS - Online Catalogue of the ZBW

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