A capital budgeting decision procedure appropriate for choosing the continuance, replacement, or abandonment of an asset‐in‐place is examined. The optimal replacement decision on an asset already in service requires simultaneous consideration of project life, project chaining, and possible...

The use of the Stochastic Dominance (SD) ordering rules in selecting a set of acceptable debt issuance strategies is examined. A procedure for selecting among alternative strategies on both the timing of issuance and maturity composition of a portfolio of liabilities is formulated. An...