pindyck meaning in English
平代克
Examples
- But my focus was specially laid on the decision - making of investment under uncertainty and with competition , i first . extend the basic model of dixit & pindyck ' s by allowing the relevant parameter to be a random variable , then proposed an numerical example to show how to solve this model , i gave the algorithm and did the comparative static analysis , finally i developed a model of duopoly under uncertainty , considering the competition between the firms explicitly , using roa , i calculated the two firm ' s values respectively when they take different roles - to be leader or follower , and then checked the possible equilibriums
本文的重点是考察在同时存在不确定性和竞争的情况下，如何用实物期权的理论估算投资项目的价值，为此，文中发展了两个模型，第一个模型是对dixit & pindyck的模型的扩展，它通过一个相关的随机变量来考察竞争对项目价值的影响，但没有考虑企业间的相互博弈，文中给出了一个例子详细地说明了该模型的求解并做了敏感性分析；第二个模型是一个不确定情况下的双寡头模型，文中给出了用实物期权方法计算的两企业在处于领导者和跟随者两种不同境况时的价值，并将企业间的相互博弈考虑在内，考察了可能的均衡状态。 - According to the optional character of the technology innovative projects " investment , the thesis has investigated the choice and decision - making of these projects systemically with the real option theory . the main points of this thesis are as follows : firstly , it compares the similarity between real option of the technology innovative projects and option based on the summary of option pricing theory and systems analysis of these projects and their characters , which can be made as the theory and evidence of the real option approach to value these projects . secondly , based on the synthesized analysis of these projects " option , it sets up three models to value the different real option respectively in these projects such as the delaying option , growing option and multiple option
论文的主要工作有： 1 )在概述期权定价法和系统分析技术创新项目及其实施过程特点的基础上，比较了技术创新项目投资与金融期权投资的相似性，作为技术创新项目投资的实物期权评价法的理论与依据； 2 )在综合分析技术创新项目投资所具有期权的基础上，分别建立了技术创新项目投资的延迟期权、增长期权和复合期权模型，并进行了相应的实证研究和比较研究； 3 )对pindyck的期权定价模型进行了推广和改进，利用模型探讨了投资时机的选择性及其对投资机会价值和投资决策的影响，并在此基础上确定最优投资规则，为技术创新项目投资决策提供参考； 4 )针对定量模型难以规避技术创新项目中组织风险的特点，进一步将定量模型和定性研究方法相结合，对技术创新项目投资评价的实物期权模型进行了改进，使得评价模型更合理。