[1]安实,田季员,赵泽斌.不确定及竞争条件下研发投资期权博弈分析[J].深圳大学学报理工版,2009,26(1):102-105.
 AN Shi,TIAN Ji-yuan,and ZHAO Ze-bin.Option-game analysis in R&D investment under uncertainty and competition[J].Journal of Shenzhen University Science and Engineering,2009,26(1):102-105.
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不确定及竞争条件下研发投资期权博弈分析()
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《深圳大学学报理工版》[ISSN:1000-2618/CN:44-1401/N]

卷:
第26卷
期数:
2009年1期
页码:
102-105
栏目:
数学与应用数学
出版日期:
2009-01-30

文章信息/Info

Title:
Option-game analysis in R&D investment under uncertainty and competition
文章编号:
1000-2618(2009)01-0102-04
作者:
安实田季员赵泽斌
哈尔滨工业大学管理学院,哈尔滨 150001
Author(s):
AN ShiTIAN Ji-yuanand ZHAO Ze-bin
School of Management,Harbin Institute of Technology,Harbin 150001,P.R.China
关键词:
投资决策期权博弈实物期权
Keywords:
investment decisionoption-gamereal option
分类号:
F 830.593
文献标志码:
A
摘要:
基于投资决策活动中成本的不可逆性、不确定性以及市场竞争等因素,分析市场需求对企业研发投资决策的影响,建立离散型两阶段期权博弈模型.在传统模型中引入新变量——经营成本,综合考虑技术溢出和吸收能力对项目投资临界值的影响,得到领导者企业和追随者企业在每个阶段的投资策略.
Abstract:
Real option approach emphasizes the indivisibility and irreversibility of R&D project,but the impact of competitive interactions among competitors drastically erodes the value of the option to wait,and leads to investment at very low value threshold.This paper uses the theory of real options & games to analyze investment under demand uncertainty and market competition.In allusion to the factors of cost irreversibility,uncertainty and market competition,this paper emphasizes particularly the effects of market demand on enterprises’ R&D investment decision,sets up a symmetric option-game model of duopoly,introduces new variables(operating cost) in the traditional model,and emphasizes the effects of technology spillover and absorptive capacity on project investment critical value.It analyses the investment threshold for an enterprise as a leader or a follower in every stage.

参考文献/References:

[1]曹国华,潘强.基于期权博弈理论的技术创新扩散研究[J].科研管理,2007,28(1):188-191.
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[1]CAO Guo-hua,PAN Qiang.Research on technology innovation diffusion by means of option games[J].Science Research Management ,2007,28(1):188-191(in Chinese).
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[1]王 刚.建设项目投资区域决策与投资地点选择[J].深圳大学学报理工版,2001,18(2):88.
 WANG Gang.Decision-making Process for the Selection of Investment Sites[J].Journal of Shenzhen University Science and Engineering,2001,18(1):88.

备注/Memo

备注/Memo:
收稿日期:2008-10-06
基金项目:国家哲学社会科学创新基地资助项目
作者简介:安实(1968-),男(汉族),黑龙江省哈尔滨市人,哈尔滨工业大学教授、博士生导师.E-mail:anshi@hit.edu.cn
更新日期/Last Update: 2009-02-17