Making Investment Decisions Under Uncertainty

Dulat N. Shukayev, Zhanar Bimurat, Darkhan Abdibekov, and Nazgul O. Yergaliyeva


Investment activities, investment projects, modeling


The investment promotion policies and strategies are currently at the center of attention in Kazakhstan. The government's primary goal is to achieve a favorable investment climate in the country and provide further incentives for an inflow of foreign direct investments into the economy. There is also an important focus on improving the methods of evaluating and selecting investment projects. Many authors have studied the issues of financial and economic evaluation of investment activities. In this article, we examine methods of making investment decisions and develop a specific procedure for selecting investment projects based on decision-making theory. The methods we present make it possible to determine the most effective investment strategy under uncertainty. An algorithm has been developed for selecting the most promising project from a set of projects under uncertainty.

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