| Research of relationship between uncertainty and investment |
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| 作者姓名： | 孟力 汪定伟 |
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| 作者单位： | [1]SchooloflnformationSctence＆Engineering,NortheasternUniversity,Shenyang1100006,China／／SchoolofManagement,ShenyangUniversityofTechnology,Shenyang110023,China [2]SchooloflnformattonSctence＆Engtneertng,NortheasternUniversity,Shenyang1100006,China |
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| 摘 要： | INTRODUCTION Real option involves application of finance op-tion in material deal. “When evaluating the value ofinvestment opportunities and optimizing strategies,rational investors will be wiser to find a method toobtain the maximal value of projects based on marketinformation than those who simply utilize subjectivepossibility or the function of utility” (Everstinefc,1981; Dixit and Pindyck, 1995; Cox and Rubinstein,1979; Amram and Kulatilaka, 2001; Galitz, 1998;Meng et al., …
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| 关 键 词： | 投资分析 随机过程 不确定性 投资选择 |
| 收稿时间： | 18 November 2003 |
| 修稿时间： | 8 April 2004 |
Research of relationship between uncertainty and investment |
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| Meng Li,Wang Ding-wei.Research of relationship between uncertainty and investment[J].Journal of Zhejiang University Science,2005,6(4):334-338. |
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| Authors: | Meng Li Wang Ding-wei |
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| Institution: | (1) School of Information Science & Engineering, Northeastern University, 1100006 Shenyang, China;(2) School of Management, Shenyang University of Technology, 110023 Shenyang, China |
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| Abstract: | This study focuses on revealing the relationship between uncertainty and investment probability through real option model involving investment critical trigger and project earning. Use of Matlab software on the experimental results showing that project earning volatility influences investment probability, led the authors to conclude that this notion is not always correct, as increasing uncertainty should have an inhibiting effect on investment, and that in certain situation, increasing uncertainty actually increases the investment probability and so, should have positive impact on investment. |
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| Keywords: | Investment Uncertainty Real option Stochastic process |
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