投资项目的期权价值乘数与最优投资规则

On the Option Value Multiple of Investment Under Uncertainty and The Optimal Investment Rule

介绍了不确定环境下的投资项目的期权评价方法和最优投资规则 ,研究了单期项目和连续投资项目的投资决策问题 ,探讨了反映实物期权评价方法与传统的净现值评价方法中最优投资规则的差异的期权价值乘数 ,并对期权价值乘数进行了敏感性分析 。

We introduce the real options method of investment under uncertainty and determine the rule of optimal investment. In the cases of one period investment and the continuous time investment, we compare the difference of the investment rules between the real options value and the traditional net present value and make sensitivity analysis. We conclude some intuitive and applicable results.