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Ranking Investment Alternatives-A New Look

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Abstract:

Present capital budgeting techniques for ranking investment alternatives do not allocate capital efficiently among projects for which the rate of return varies with the amount invested. Current techniques for developing a capital demand schedule for a firm or organization divert funds from higher-return to lower-return projects. A technique is proposed for developing a new type of capital demand schedule that aggregates the marginal rate-of-return curves of individual projects. This leads to a greater investment in projects promising the highest rates of return, and results in a more efficient allocation of capital.

Document Type: Journal Article

Affiliations: Principal Economist for the North Central Forest Exp. Sta., U.S. Forest Serv., St. Paul, Minn., maintained in cooperation with the University of Minnesota

Publication date: September 1, 1971

More about this publication?
  • The Journal of Forestry is the most widely circulated scholarly forestry journal in the world. In print since 1902, the Journal has received several national awards for excellence. The mission of the Journal of Forestry is to advance the profession of forestry by keeping forest management professionals informed about significant developments and ideas in the many facets of forestry: economics, education and communication, entomology and pathology, fire, forest ecology, geospatial technologies, history, international forestry, measurements, policy, recreation, silviculture, social sciences, soils and hydrology, urban and community forestry, utilization and engineering, and wildlife management. The Journal is published bimonthly: January, March, May, July, September, and November.
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