【摘要】 将投资概率视为投资项目实物期权模型中不确定性与投资决策的测度,并将项目投资决策模型化为美式期权。探讨了不确定性对投资决策的影响,笔者认为这取决于资产价格均衡关系式。更多还原

【Abstract】 The paper views the probability of investing in a capitalinvestment project as a measure of the uncertaintyinvestment relationship in a real option model, and the project investment decision model can be deduced as an American call option. Also,the effect of uncertainty upon the investment decision is further discussed so that the authors hold that this mainly depends on asset price equilibrium condition.更多还原