In most practical cases, it is impossible to find an explicit expression for the distribution function of the present value of a sequence of cashflows that are discounted using a stochastic return ...

This is a preview. Log in through your library . Abstract In this paper, we give some upper (lower) bounds on E max1 ≤ i ≤ n Xi(E min1 ≤ i ≤ n Xi), where the Xi's are real-valued random variables.