The internal rate of return (IRR) is a venerable technique for evaluating deterministic cash flow streams. Part of the difficulty in extending this measure to stochastic cash flows is the lack of coherent methods for accounting for multiple or nonexistent internal rates of return in...

New lock box solution techniques have recently been suggested by Stone and Nauss-Markland. This paper briefly discusses these new methodologies and shows how the algorithms can be combined into a third solution procedure which exploits the computational efficiency of the Stone heuristic and...