By Rakesh V. Vohra

ISBN-10: 0415700086

ISBN-13: 9780415700085

This concise textbook provides scholars with all they want for advancing in mathematical economics. particular but student-friendly, Vohra's publication contains chapters in, among others: * Feasibility * Convex Sets * Linear and Non-linear Programming* Lattices and Supermodularity. greater point undergraduates in addition to postgraduate scholars in mathematical economics will locate this booklet super worthwhile of their improvement as economists.

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Example text

We have to bear in mind that, in the last six years, the company has been facing a very serious economic feasibility problem, since the liquidity generated from its assets was negative during four years. 2 summarizes the evolution of Publications’ Net Cash Flow during 2008–2013. When we examine liquidity from this perspective, the following conclusions emerge: • Debt reduction through amortization is only achieved by generating positive net cash flow (NCF). , the increase in debt during the period 2008–2013 is due to the negative Net Cash Flow generated.

Suppose that we establish a commercial relationship between A (supplier) and B (customer) whereby A collects after 120 days. Let’s suppose that B takes advantage of an early payment discount, for which it receives 3%. It is commonly said that A is obtaining finance at 9%, which in a scenario in which financing costs 7% would imply it includes a risk premium of 2%. The calculation of the effective cost of financing may differ because, among other things, of the time value of money, which is a consequence of its inherent opportunity cost.

As already mentioned, the relationship between the supplier and customer is generally viewed as being a zero-sum game, in which a gain for one of the parties always represents a loss to the other. To create sustainable value it is necessary to overcome this perception and instead establish relationships between the parties in which both sides can win. Bearing this in mind, in recent years a number of business management tools have become available to facilitate cooperation between suppliers and their customers.

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Advanced Mathematical Economics (Routledge Advanced Texts in Economics and Finance) by Rakesh V. Vohra


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