Browsing by Author "Hoyle, Robert Stephen"
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Item Some practical aspects of capital budgeting using chance constrained programming(1976) Hoyle, Robert Stephen; Dawkins, George S.; Rhodes, Benjamin T., Jr.; Otto, Gordon H.; Poage, Scott T.The use of mathematical programming(MP) in capital budgeting(CB) industry practice appears to be rare even though the concept has been in the literature for a number of years and seems well-suited to the problem. The hypothesis is proposed in this thesis that perhaps the inclusion of uncertainty in the MP formulation, via chance constrained programming (C2P), would enhance the industry utilization of MP in CB-since the uncertainty data would better fit the sophistication of a MP approach. A review of some previous CB theoretical works and industries' response to these is presented in order to address some of the practical difficulties in the adoption of more sophisticated CB techniques by industry. [...]