The objective of this paper is to build a real options model under hybrid uncertain environment of randomness and fuzziness. In order to well describe the real uncertain situation, we utilize fuzzy random variable as a tool to characterize future cash flows, and propose a new real options analysis approach by combing binomial lattice-based model with fuzzy random variable, as named fuzzy random real options analysis (FR-ROA). Then the proposed FR-ROA is applied to an R&D project problem under fuzzy random environment, and the relations of FR-ROA with the classical ROA and the fuzzy ROA are explicitly discussed, respectively.
|ジャーナル||International Journal of Innovative Computing, Information and Control|
|出版ステータス||Published - 2010 4|
ASJC Scopus subject areas
- Computational Theory and Mathematics
- Information Systems
- Theoretical Computer Science