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A Chance-Constrained Approach to Urban Renewal Decisions**

Published online by Cambridge University Press:  19 October 2009

James C. T. Mao  and
Roger L. Wright
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Extract

If all urban renewal projects were perfectly divisible and completely independent of one another, and if the urban renewal authority had perfect foresight as well as unlimited funds, the investment decision would be ideally simplified. There would be no need to choose between competing projects, and the urban renewal authority could evaluate each project on its own merits, without reference to any other project. Its decisions would be merely decisions to accept or reject single projects, uncomplicated by portfolio considerations.

Type
Research Article
Information
Journal of Financial and Quantitative Analysis , Volume 3 , Issue 2 , June 1968 , pp. 135 - 150
Copyright
Copyright © School of Business Administration, University of Washington 1968

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References

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