There is broad consensus that three types of risk confront the potential bond purchaser: the
risk of default (possible interest and/or principal loss), the risk of interest rate changes (…

Ronald Howard's editorial comments in the June, 1967 volume of this journal stressed the
power of the pricing mechanism in the control and optimization of social systems. This article …

(1) investors' utility functions are such that they are risk averters and trade-off risk (as measured
by the standard deviation of the portfolio present value) for expected return; 2 (2) real …

The Dantzig‐Wolfe decomposition algorithm is posited as a method of finding the optimal
treatment configuration for meeting water quality standards along a river basin and …

There are many proponents of dollar-cost averaging. And there are times to benefit from
dollar-cost averaging and times it would be better not to use it. The authors present some …

The objective of this paper is to compare the cost of equity capital, when earnings are being
retained, with the cost of equity capital when new capital is being obtained from investors. …

In a previous paper we reviewed the literature on normative stock price models. These
models specified the present value of a share of common stock to be equal to the discounted …

Recovery of the unavoidable costs of issuing new shares of stock is generally agreed to be
appropriate in determining utility revenue requirements. This article suggests that the …

The authors examine the fundamental factors that determine earnings growth, including the
role of share repurchase, and offer a simple method of calculating the expected long-term …

Business Week recently described Con Edison as the" Archetype of the Ailing Utility" and just
about everyone includes Con Ed's passed dividend in their list of reasons why the market …