Research on the Investment Timing and Investment Scale Based on a Real Option-game Model

被引：0

作者：

Zhou, X. X. ^{[1
]}

Chi, C. J. ^{[1
]}

机构：

[1] E China Univ Sci & Technol, Dept Management Sci & Engn, Shanghai 200237, Peoples R China

来源：

INTERNATIONAL CONFERENCE ON ADVANCED MANAGEMENT SCIENCE AND INFORMATION ENGINEERING (AMSIE 2015) | 2015年

关键词：

Real option; option games; investment timing; investment scale; uncertainty;

D O I：

暂无

中图分类号：

TP39 [计算机的应用];

学科分类号：

081203 ; 0835 ;

摘要：

In this paper, in order to research the relationship between the volatility and investment decision under monopoly investment, sequential investment, and simultaneous investment, the investment decision was divided into investment timing and investment scale. We analyzed the difference of investment timing and investment scale under three situations based on a real option-game model. Then, we validated it through a numerical example. The results show that the uncertainty will not only make the firm postpone its investment, but also increase the total investment scale on the market in all three situations. Besides, as uncertainty increases, the difference of investment scale between the leader and the follower will become larger, and the scale of the follower tends to be a constant value under sequential investment; while as uncertainty increases, the difference of investment scale between the leader and the follower will become smaller under simultaneous investment.

引用

页码：1 / 9

页数：9