Figure 1
The figure contains a table on the left and a plot on the right. The table is positioned on the left and comprises 4 columns and 4 rows. From left to right, the column headers are as follows: Column1: No header; Column 2: “Investment hash”, Column 3: “I R R: W A C C Ratio”, and Column 4: “percent Selecting the Investment Over Not Investing”. The headers for the second through fourth rows are labeled from top to bottom as follows: “Matrix A”, “Matrix B”, and “Matrix C”. Rows 2 through 4 are each divided into 6 sub-rows. The entries in the table are as follows: Under “Matrix A”, the “Investment hash” column lists “1, 2, 3, 4, 5, 6” with corresponding “I R R: W A C C Ratio” values “1.43, 1.00, 0.59, 2.14, 1.50, 0.88”, and the “percent Selecting the Investment Over Not Investing” column lists “93.3 percent, 81.7 percent, 0.0 percent, 100.0 percent, 93.3 percent, 0.0 percent”. Under “Matrix B”, the “Investment hash” column lists “1, 2, 3, 4, 5, 6” with corresponding “I R R: W A C C Ratio” values “1.60, 2.00, 2.40, 0.40, 0.50, 0.60”, and the “percent Selecting the Investment Over Not Investing” column lists “98.3 percent, 100.0 percent, 100.0 percent, 0.0 percent, 0.0 percent, 0.0 percent”. Under “Matrix C”, the “Investment hash” column lists “1, 2, 3, 4, 5, 6” with corresponding “I R R: W A C C Ratio” values “1.14, 1.43, 1.71, 0.73, 0.91, 1.09”, and the “percent Selecting the Investment Over Not Investing” column lists “89.2 percent, 92.3 percent, 100.0 percent, 0.0 percent, 18.5 percent, 67.7 percent”. The scatter plot positioned on the right is titled “percent of Respondents Selecting the Investment Over Not Investing versus the I R R: W A C C Ratio, Observed”. The vertical axis label reads “Percent x 100” and ranges from 0 to 1 in increments of 0.2 units. The horizontal axis label reads “I R R: W A C C Ratio” and ranges from “0.00” to “3.00” in increments of 0.50 units. Individual data points are plotted across the graph. Several points lie along the bottom near “Percent x 100” equals 0 between approximately “I R R: WACC Ratio” 0.40 and 1.00. One point appears below the 0.2 level around an “I R R: W A C C Ratio” slightly below 1.00. Above 0.6, multiple points rise as “I R R: W A C C Ratio” increases, with points near 0.7 to 0.9 between roughly 1.00 and 1.50, and several points reaching the top boundary at “1” between roughly 1.50 and 2.50. Note: All numerical values are approximated.Percent selecting the investment, observed. Source: Authors’ own work