DOMINANCE CRITERIA FOR THE RANKING OF PROJECTS WITH AN IMPERFECT CAPITAL MARKET
建立了在不完美资本市场（借贷利率不同）中比较离散投资项目的占优准则，给出了所有投资者偏好某现金流的充要条件，并提出了无占优时的四步决策流程。
Dominance criteria are established for problems of choice between alternative discrete investments where financial markets have unequal borrowing and lending interest rates. In the general case, the necessary and sufficient condition for all investors to prefer cash flow Q to cash flow R under non‐satiety, is that Q can be converted to a superior flow to R ‐ element by element. Where negative arguments of the decision maker's utility function are prohibited, it is necessary and sufficient that realisable value for Q exceeds realisable value for R at all times. A four stage procedure completes the decision making process where no inter‐project dominance exists.