Ways of Computing the Value of Alternative Projects Essay...

Ways of Computing the Value of Alternative Projects When deciding whether to invest in a project an investor first will compare investment or sunk costs to the expected profit and based on this decision will decide what to do. Depending on the specifics of the project calculating of sunk cost and expected profit might be rather different and will play the main role in the decision to invest, wait and invest later or not to invest at all. More detailed consideration of the standard NPV rule: to invest if present value of cash flow is greater than sunk cost will show that some projects cannot be simply estimated using this idea. For the irreversible projects such as building a factory or buying an option NPV method may not be proper†¦show more content†¦Now, consider the factory that can produce some product. There is F=100 the sunk cost of building the factory and the price of the product is P=$10 today. In a year there are two possible options: the price will go up to $15 with probability 1/2 or will go down to $5 with probab ility 1/2 and then stay at these levels. Let us calculate net present value of the project if invested today (expected price will be $10, because 1/2 ·15+1/2 ·5=10 and the interest r=0.1 for easy calculations): NPV=-100+Ó0[10/(1+r)t]=$10 notice that in this case we have summation from 0 to infinity because the process starts on the step one, it means we invest in project right now. Using our parameters we can see that NPV if invested today is equal $10. Now let us calculate net present value, but in this case we do not invest right now, but wait and invest only if the new price is 15, which happens with probability 1/2: NPV=0.5[-100/(1+r)+ Ó1[10/(1+r)t]]=$30 we have to discount the value of the sunk cost and also sum not from zero as in the first case but from 1, since we wait for a year. Thus, we can see that NPV if we wait is bigger by $20, this value is the value of flexibility or option to wait. The same thing can be computed for three-step process and more. Now we can see the difference in the calculations and gain if we wait. This gives an investor new option - to wait and gather information, so his expected profit will be higher. Of course, theShow MoreRelatedEssay On ECS1383 Words   |  6 PagesOCA is best positioned and qualified to stand up ECS: Cloud computing overview Cloud computing is a model for enabling ubiquitous, convenient, on-demand network access to a shared pool of configurable computer resources (e.g., networks, servers, storage, applications and services) tha can be rapidly provisioned and released with minimal management effort or service provider interaction. 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What Foucault Calls `` Bio Power `` Essay - 1546 Words

What Foucault calls â€Å"Bio-power†, an institutional power of the life and death of the human species, a long-term result of the 17th century Cartesian mechanization of nature, could be considered dangerous. The question today is: is having power of manipulation, life, and death dangerous? Should someone have the power to be able to give, extend, or end a life? Is it overall helping or harming humanity? The subject of bio power, or the idea of someone having the power to control another, has been around since the stone age. The ability to â€Å"control† or manipulate someone has always been a possibility. In the stone age, the more strong, wise, and powerful caveman controlled the younger, weaker caveman. Today, our bosses, coaches, and professors have the ability to â€Å"control† us. It all seems to relate back to social anarchy, and who is on top of the â€Å"popularity ladder†. 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Legal opinion Free Essays

In the instant case, defendant Panah was convicted in the trial court of murder and he was sentenced to death. His case is now before us on appeal because of the rule on automatic appeal in case of verdicts of death penalty. In this case, an eight-year-old girl named Nicole Parker was visiting his father, Edward Parker in Woodland Hills. We will write a custom essay sample on Legal opinion or any similar topic only for you Order Now At 11:00 in the morning of the said date, Nicole asked her father for a softball and glove and went outside the apartment complex of his father to play. Forty-five minutes after, Edward looked for Nicole but she is nowhere to be found. Thus, Edward looked for his daughter within the apartment complex to no avail. Edward Parker’s failure to find Nicole prompted him to call the police. Defendant Panah, the resident of apartment #122, talked to Edward and found out that the latter was looking for his missing daughter. When the police arrived, the defendant insisted that Edward come with him to Ventura Boulevard to look for Nicole, but Edward refused. Thereafter, one of the police was informed that Nicole was last seen talking to a man in his 20s who was living in apartment #122. Thus, the said policeman asked for the key to the said room from the manager and searched the apartment complex for Nicole but did not find her. Hours later, the detectives were informed that the defendant attempted to commit suicide and told a friend that he did something really bad that is in connection with the missing child. This friend told the police, which new information prompted the latter to conduct another warrantless search of apartment #122, wherein they found Nicole’s dead body wrapped in a bed sheet and stuffed inside a suitcase. The defendant was charged with murder, and he raised issues as to the illegality of the warrantless searches in his pre-trial motions. However, the trial judge ruled that the warrantless searches were valid, and the defendant was convicted. In this appeal, the defendant again raises the same issues, arguing that the warrantless search conducted in his apartment unit was a violation of his rights under the Fourth Amendment, and that   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   there were no exigent circumstances warranting a warrantless search. Opinion: Under this jurisdiction, we uphold the right of citizens to be secure in their houses and effects. This security is embodied in the Fourth Amendment to our Constitution and is guaranteed by the rule that searches should be reasonable and supported by a warrant based on a finding of probable cause. The Fourth Amendment states: â€Å"The right of the people to be secure in their persons, houses, papers and effects, against unreasonable searches and seizures shall not be violated, and no warrants shall issue, but on probable cause, supported by oath or affirmation, and particularly describing the place to be searched, and the persons or things to be seized.’† Thus, it is clear that as a general rule, a search warrant must be secured by police officers before barging in another man’s home and searching it for effects. However, this general rule admits of certain exceptions. Precedent: The case of McDonald v. United States, decided in 1948 (355 U.S. 451, 93 L. Ed 15), explained that emergency situations that serve as compelling reasons may justify the absence of a search warrant. While this case decided in favor of the defendant and emphasized his right to be secure in his house and effects, it provides authority for the other position, that is, that given reasonable justification, the requirement of a search warrant may be dispensed with. However, care must be taken so that it is certain that exigent circumstances do exist to justify a warrantless search. After all, it is a fundamental right of all persons to be secure in their houses and effects, and trivial suspicions and the lack of adequate justification should not be an exception to Fourth Amendment rights.   In Kirk v. Louisiana (536 U.S. 635), promulgated in 2002, the Supreme Court again ruled that the police’s conduct of warrantless search was illegal, because they did not find exigent circumstances to justify the absence of a warrant. It should be noted that the court only struck down the validity of the search because there was no exigent circumstances to justify the warrantless search.  Nexus. These cases are authority to serve as the exact opposite of the case at bar. Here there is clearly an exigent and emergency situation. A child had gone missing, and the police did not know whether the girl was dead or alive. Time was of the essence, and the police had to make an immediate decision as to whether to conduct a search, if they were to save the life of the girl. Thus, in this situation, there is clearly an exigent circumstance justifying a warrantless search, because the life of a young girl is on the line. Moreover, probable cause exists, since even prior to the statement of the defendant’s friend regarding his confession, the police were able to gather information from other people that the victim was last seen talking to the defendant. Thus, since there was probable cause and exigent circumstances, this case clearly falls within the recognized exceptions to the Fourth Amendment, and the right of the defendant to be secure in his house and effects was not violated. Hence, the evidence derived from such warrantless search is admissible in evidence against him, and could form the basis of his conviction. The decision of the lower court is thus, affirmed. How to cite Legal opinion, Essay examples