| 需求不对称双头房地产开发的期权博弈分析 |
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| 引用本文： | 刘涛,刘丽霞.需求不对称双头房地产开发的期权博弈分析[J].武汉理工大学学报,2010(2). |
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| 作者姓名： | 刘涛 刘丽霞 |
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| 作者单位： | 杭州电子科技大学财经学院;湖州职业技术学院工商管理分院; |
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| 基金项目： | 杭州电子科技大学科研启动项目(KYS025608044) |
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| 摘 要： | 利用期权博弈理论分析了需求不对称下双头垄断市场的房地产开发投资决策,引入相对需求差异度的概念,在分别计算领先开发、跟随开发和同时开发价值基础上,得到了各开发价值和阈值间的相互关系,指出需求不对称内生决定了开发商在市场竞争中的地位,进而导致不同的开发决策,最后阐述了经济含义,很好地解释了房产市场上的一些经济现象并可用来指导开发实践,为政府的调控政策提供理论支持。
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| 关 键 词： | 实物期权 期权博弈 房地产 不对称 投资决策 |
Option Games Analysis of the Real Estate Development |
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| LIU Tao,LIU Li-xia.Option Games Analysis of the Real Estate Development[J].Journal of Wuhan University of Technology,2010(2). |
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| Authors: | LIU Tao LIU Li-xia |
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| Affiliation: | LIU Tao1,LIU Li-xia2(1.School of Finance,Hangzhou Dianzi University,Hangzhou 310018,China,2.School of Business Administration,Huzhou Vocational & Technical College,Huzhou 313000,China) |
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| Abstract: | This paper applies the option games theory to analyze the real estate development decision under the demand asymmetric duopoly,and introduces the relative demand difference.It calculates the values of the leading and following and simultaneous development,and then the relationship of the development value and threshold is deduced.It is showed that the demand asymmetry determines the status of the developer in the real estate market;the developer will select the different development decisions.And finally,th... |
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| Keywords: | real options option games real estate asymmetry investment decision |
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