产品发明专利池的定价研究——基于跳扩散实物期权理论的模拟分析

The Study of the Pricing of the Product Patent Pool:Simulation Analysis Based on Real Option Theory with Jump-diffusion

产品发明专利池像期权一样具有垄断性,且使用它产生的收益和成本也具有与标的资产一样的不确定性。本文首先根据期权定价理论,指出产品发明专利池的价值可由使用它产生的收益和成本决定,而收益和成本可分别用一般(或支付红利率)的跳扩散模型和扩散模型来描述。其次,本文使用蒙特卡洛模拟方法模拟出产品发明专利池的价值。最后,本文对依据产品发明专利池的价值转让专利池、一次付清许可费、首付加每期按比率支付许可费等三种情况下的产品发明专利池的费用进行了模拟分析。

It is pointed out that the product patent pool is a monopoly,like options.Revenue and cost by using it are uncertainty as the underlying asset of option.Firstly,option pricing theory is introduced to price the product patent pool.The value of the product patent pool can be generated by its revenue and cost.The jump-diffusion model is used to describe revenue value and the diffusion model is used to describe cost value.Secondly,by means of Monte Carlo simulation method,the value of the product patent pool is obtained.Finally,the product patent pool fee is simulated and analysed from three kind of cases(ie,the fee of transferring patent pool by the value of the product patent pool,payoff the product patent pool licensing fee and initial pay a product patent pool licensing fee adding the fee be paid a period of time pro rate.