企业R&D投资期权博弈方法的一般分析框架研究

General Framework Research on Options and Game Theory on Company R&D Investments

企业R&D项目的3个特征——不可逆性、不确定性和竞争性,决定了其投资决策应该采用实物期权与博弈论相结合的决策评价方法,以提高投资决策的科学性和准确性。从传统理论方法存在的问题入手,对期权博弈方法在企业R&D项目决策中应用的优越性和必要性进行了阐述,并围绕其3个显著特征,归纳、总结了期权博弈方法应用的一般分析框架。在此基础上,对该方法的模型发展进行了比较和阐述。

The three features of company R＆D projects -irreversible, uncertain and competitive,result in that the R＆D investment decisions should adopt the framework based on real option and game theory, which can improve the scientism and accuracy of the decisions. This paper studies on the advantage and necessity of the use of this approach in the fields of company R＆D project investment from the analysis of traditional methods problems, and summarizes the general applying framework based on these three features, and further compares and analyzes the model development.