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- W2167063039 abstract "This work presents a novel option pricing method to evaluate R&D projects, an area that has received considerable attention in recent years. As the underlying assets, e.g. R&D projects, are usually non-tradable, this work examines a ”twin” or ”surrogate” traded asset whose price process is highly correlated with that of a non-traded underlying asset. Based on the observable market price of the surrogate asset, the proposed model can price the value of a real option underlying the non-traded R&D projects. The proposed model differs from previous ones mainly owing to its ability to deal with highly complex situations, e.g. the compound effect and the non-tradability of R&D projects, when evaluating them." @default.
- W2167063039 created "2016-06-24" @default.
- W2167063039 creator A5004326219 @default.
- W2167063039 date "2011-09-01" @default.
- W2167063039 modified "2023-09-25" @default.
- W2167063039 title "Valuation of R&D Projects" @default.
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- W2167063039 doi "https://doi.org/10.6126/apmr.2011.16.3.06" @default.
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