The problem of restoring the economic growth and overcoming the stagnation of the Russian economy is associated with escaping the institutional traps. One of these traps is the big difference between interest rates on loans and deposits, which expresses the imperfection of the capital market and prevents an objective assessment of investment projects. In these conditions, the assessment of an investment project becomes dependent on the business environment in which the project is implemented. We propose to use the Cantor–Lippman model of investment at an imperfect capital market to describe the entrepreneurial (investment) environment. In the Cantor–Lippman model, the investment environment is described by a pool of stationary, replicable investment projects. Deflators are built and used to evaluate new investment projects and the financial state of the investor. The asymptotic properties of the deflators and, with their help, the problems of economic growth in Russia are discussed.
Keywords: investments, Cantor–Lippman model, mathematical modeling of economics, NPV, IRR, dual problem, investment polynomial, linear programming
Received October 16, 2019
Revised January 20, 2020
Accepted January 27, 2020
Funding Agency: This work was supported by the Russian Science Foundation (project no. 16-11-10246).
Aleksandr Alekseevich Shananin, Dr. Phys.-Math. Sci, RAS Corresponding Member, Prof., Moscow Institute of Physics and Technology (National Research University), Moscow, 141701 Russia; Federal Research Center “Computer Science and Control” of Russian Academy of Science, Moscow, 119333 Russia; Lomonosov Moscow State University, Moscow, 119991 Russia; Peoples’ Friendship University of Russia, Moscow, 117198 Russia, e-mail: alexshan@yandex.ru
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Cite this article as: A.A.Shananin. Analysis of the financial state of an investor based on the Cantor–Lippman model, Trudy Instituta Matematiki i Mekhaniki URO RAN, 2020, vol. 26, no. 1, pp. 293–306.
