基于Black-Scholes期权模型的房地产投资决策分析

Analysis of the Real Estate Investment Decision Using the Black-Scholes Option Model

传统的房地产投资决策分析,并没有考虑房地产投资中由项目不确定性和动态灵活性所带来的价值,因此,在很大程度上影响了投资决策的有效性。基于此,拟将Black-Scholes期权定价模型应用到房地产投资分析中,对其进行推导并构建适用于房地产投资决策的模型,最后分析房地产投资决策的一个实例,说明此方法比传统方法更加有效合理,并具有较强的可操作性。

The real estate investment methods often neglect the value of uncertainty and dynamic choice of timing.So it is more difficult to make the decision reasonably.Under this idea,in this article the Black-Scholes pricing model is deduced,and a model of investment decisions is established in the real estate.Finally,to analyze the case of real estate investment,it concludes that the Black-Scholes method is more effective than the traditional method.