Research on Option Game Model for Real Estate Project Decision Making under Multi-factors Uncertainty

摘要：

This paper illustrates the use of real options valuation and game theory principles to analyze strategic behavior of the real estate firms under multi-factors uncertainty.The traditional option game model assumes only one factor is uncertainty such as demand or price.In fact,due to the complicated situation,many factors are stochastic which will affect the strategic behavior of the real estate firms.In this paper two stochastic factors are taken into account in the option game model.The two stochastic factors are the number of units (market volume) and the profit per unit.In this condition,we analyze equilibrium strategy through the value and threshold of the leader and follower.

关键词： Real estate Option game Decision making Uncertainty Pre-emptive game

作者: LU Juchun QING Han

作者单位: School of Economics and Management,Wuhan University,P.R.China 430072

会议类型: 国际会议

会议名称: 2007 International Conference on Management Science and Engineering(2007管理科学与工程国际学术会议)

会议地点: 河南焦作

会议语种:英文

页码: 1744-1748

在线出版日期: 2007-08-20（万方平台首次上网日期，不代表论文的发表时间）