Using the Theory of Option Pricing for Estimating Investment Projects in Construction

Михайлова Е.В.
Using the Theory of Option Pricing for Estimating Investment Projects in Construction - View in Russian

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Abstract:
The standard procedures of cash flow discounting do not take into account either the uncertainty of prices on the real estate market or the internal conditions of the construction process. To avoid such situation, the writer suggests that the option pricing model should be used. This model allows investors a possibility of reacting quickly to the changing market conditions in the course of the project implementation.

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Citation:
Mikhaylova, E.V. (2012) Using the Theory of Option Pricing for Estimating Investment Projects in Construction. Rossiyskoe predprinimatelstvo, 13(1), 136-142. (in Russian)

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