【摘要】 R＆D项目包含的实物期权之间存在关联性作用,使得项目实物期权不具有可加性。在此,讨论了R＆D项目实物期权之间关联作用的大小和方向,结合案例分析,阐述了关联性作用对R＆D项目投资决策的影响,为R＆D项目投资提供了一个投资决策分析框架。更多还原

【Abstract】 Due to the interaction among real options embedded in the R&D project,the values of real options are not additive. It has explored the direction of the interaction as well as its magnitude. Furthermore,it provides a investment decision framework based on two cases accounting to the interaction influence on the R&D project capital allocation.更多还原