EMV和EUV理论在投资风险决策中的应用

Application of EMV and EUV Theories to Venture Capital Decision-making

期望货币值(EMV)客观分析几种情况出现的收益或亏损值及可能出现的概率;计算期望值(EUV)进行方案决策,但是它没能体现投资者(决策人)的价值观、偏好、经济承受能力.期望效用值准则是决策者在确定环境下对每个方案的隐含价值或偏好的一种量度,正好补充了期望货币值的不足,两者结合能够取长补短,达到更符合实际的决策方案.

The EMV objectively analyzes the profit and loss in several situations, and the probability possibly appears; then calculate expected value, making decision, but it has not been able to manifest the investor＇s （decision-maker） values, predilections, and economy bearing capacity. The EUV is the decision-maker＇s measurement under the determinate circumstance for concealed value or predilection of each plan, it happens to supplement the EMV insufficiency. They can interact with each other and conform to the actual decision- making plan better.