The estimation of the yield of investment projects under uncertain conditions

This paper covers the methods for assessing the yield of investment projects. In this article, I consider the modified Cantor-Lipman model, which takes into account the probability of a crisis in the investments market and its impact on investor behavior. In such a formulation, the problem is reduced to the Belman equation. However, I cannot solve this equation for the general case. I investigate the case when a cautious investment strategy, which avoids bankruptcy, is the optimum strategy. In this case, the task of researching a dynamic system, based on a cautious strategy of the investor, is carried out. This paper concentrates on studying the trajectories of a system of balanced growth and the lower bound of the capital growth of the investor is estimated. © 2010, Pleiades Publishing, Ltd.