摘要
考虑到企业间战略互动关系,在已有研究文献的基础上建立新技术投资模型,并利用实物期权方法得出了两个对称企业投资未来两代新技术不同情形下的期权价值,而且在此价值的基础上利用期权博弈方法研究了两个对称企业面对未来两代新技术的投资均衡策略,为企业在管理新技术时提供参考。
This paper provides a new technology investment model based on present literatures taking into account the strategic effects between enterprises. Some conclusions are obtained, including the option values of different conditions while two identical enterprises invest two future new technologies, using real options methods. Furthermore, the investment equilibrium strategy of two identical enterprises facing two future new technologies is analyzed by using option-game approach based on that option values, which provides a reference for the management of new technologies.
出处
《管理科学》
CSSCI
2006年第5期71-75,共5页
Journal of Management Science
关键词
实物期权
博弈
不完全竞争
新技术
real options
game
imperfect competition
new technology
