论文信息 - Real Options

Real Options

What is a real option? A real option is the opportunity, but not the obligation, to make a particular decision. For example, when an electricity producer delays a decision about whether to expand an existing generating plant or invest in wind energy, it has a real option to take either path sometime in the future. A real option has value because it delays putting a stake in the ground until more uncertainty is resolved.

Nikolaos Georgiopoulos

[1] S. Myers. Determinants of corporate borrowing , 1977 .

[2] R. McDonald,et al. The Value of Waiting to Invest , 1982 .

[3] N. Kulatilaka,et al. STRATEGY AND SHAREHOLDER VALUE CREATION: THE REAL OPTIONS FRONTIER , 2000 .

[4] Walter Schachermayer,et al. The Limitations of No-Arbitrage Arguments for Real Options , 2001 .

[5] B. E. Eckbo,et al. Appendix , 1826, Epilepsy Research.

[6] Vicky Henderson,et al. Real options with constant relative risk aversion , 2002 .

[7] V. Henderson,et al. VALUATION OF CLAIMS ON NONTRADED ASSETS USING UTILITY MAXIMIZATION , 2002 .

[8] Brian D. Ripley,et al. Basic Stochastic Processes , 2005 .