期权定价理论在技术商品定价中的应用探讨

Research on Pricing Theory of Option in Pricing of Technological Goods

技术商品不同于一般商品 ,具有报酬无限、风险有限的特性 ,尤其与支付红利的美式看涨期权特点极为相似。应用传统的资产评估方法为技术商品定价 ,其结果很难真实反映技术商品的价值。期权定价理论为技术商品的科学定价提供了一种新思路 。

The technological goods is different from the common goods because of infinite reward and finite risk. Moreover, it is very similar to the character of American call option which is able to pay the dividend. So, it is very difficult to reflect the value of the technological goods in the result of applying the traditional assets assessment method to decide the price of the technological goods. The pricing theory of option provides a new idea for the scientific pricing of the technological goods, and especially the model of American call option which is able to pay the dividend has important reference value to solve the value assessment of the technological goods.