Antinomie e illusioni cognitive nel criterio del valore attuale netto

This paper shows that the net-present-value criterion is unreliable for logical reasons: It rests on a tenet stating that a rational decision maker should never compare alternatives which are not homogeneous in terms of risk. This tenet is self-contradictory and inapplicable. It is possible to escape this contradictory tool by integrating cognitive psychology, expert systems and fuzzy logic.