The mathematics of committees (2021)
Working Paper
Fox, R. The mathematics of committees. Salford

What is the accuracy of a majority committee decision compared to individual accuracies? What is the effect of actions? What is the effect of requiring unanimity of near unanimity? What is the effect of faction formation? When should a committee foll... Read More about The mathematics of committees.

Beyond NPV (2014)
Report
Fox, R., Roddy, E., & Swientozielskyj, S. (2014). Beyond NPV

Net Present Value is a deceptively simple prescription that has dominated academic advice. Discount all expected cash flows at a risk adjusted discount rate and if the result is positive, invest, otherwise do not invest. It is still possible to read... Read More about Beyond NPV.

Capital investment appraisal: a new risk premium model (2003)
Journal Article
Fox, R., & Baker, R. (2003). Capital investment appraisal: a new risk premium model. International Transactions in Operational Research, 10(2), 115-126. https://doi.org/10.1111/1475-3995.00398

Net Present Value (NPV) is the principal valuation model of the financial literature. Firms are accordingly directed, as a matter of good practice, to adopt the model for selecting investment projects, yet questionnaire surveys show that the adoption... Read More about Capital investment appraisal: a new risk premium model.