经济经纬
經濟經緯
경제경위
Economic Survey
2008年
4期
140~142
,共null页
资源类景区 投资特性 传统投资方法 期权博弈
資源類景區 投資特性 傳統投資方法 期權博弈
자원류경구 투자특성 전통투자방법 기권박혁
resource - type scenic spot ; speciality of investment ; traditional investment method ; option and game
越来越多的企业参与到资源类景区的投资中。该类景区投资的不确定性、不可逆性和竞争性,使得传统投资决策方法和理论存在很大的局限性。为此必须在景区投资决策中引入新的投资决策方法和理论。实物期权方法解决了项目未来收益的不确定性、投资成本的沉没性和项目执行的灵活性,博弈理论解决了实物期权的共享性和竞争对手的反映。因此要在资源类景区投资决策中,构建基于期权博弈理论的投资决策构架。
越來越多的企業參與到資源類景區的投資中。該類景區投資的不確定性、不可逆性和競爭性,使得傳統投資決策方法和理論存在很大的跼限性。為此必鬚在景區投資決策中引入新的投資決策方法和理論。實物期權方法解決瞭項目未來收益的不確定性、投資成本的沉沒性和項目執行的靈活性,博弈理論解決瞭實物期權的共享性和競爭對手的反映。因此要在資源類景區投資決策中,構建基于期權博弈理論的投資決策構架。
월래월다적기업삼여도자원류경구적투자중。해류경구투자적불학정성、불가역성화경쟁성,사득전통투자결책방법화이론존재흔대적국한성。위차필수재경구투자결책중인입신적투자결책방법화이론。실물기권방법해결료항목미래수익적불학정성、투자성본적침몰성화항목집행적령활성,박혁이론해결료실물기권적공향성화경쟁대수적반영。인차요재자원류경구투자결책중,구건기우기권박혁이론적투자결책구가。
More and more enterprises enter the investment in resource - type scenic spots. The uncertainty, irreversibility and competition of the investment in this kind of tourist attractions makes the traditional investment decision - making methods and theories show their limitations. Therefore it is necessary to introduce new methods and theories. The real option method solves the uncertainty of future profit, cost sinking and flexibility in implementation and game theory solves the sharing of real options and the response of competitors. Therefore a framework for investment decision - making in resource - type scenic spots based on the option and game theories should be constructed.