| Real Option—A New Approachin the Evaluation of TelecomInvest ment Projects |
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| 作者姓名： | WU HongSchool of Economics and Management Beijing University of Post and Telecommunications Beijing P.R. China |
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| 作者单位： | WU HongSchool of Economics and Management，Beijing University of Post and Telecommunications，Beijing 100876，P.R. China |
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| 基金项目： | This workis supported by Ministry of Education P.R.C(03036)，Key Laboratory of Information Management and Information Economics, Min-istry of Education P.R.C(F04-22) . |
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| 摘 要： | 1IntroductionNowadays ,telecomindustry is facing many uncer-tainties ,because of which some carefully designed planshave to be completely renewed.It s a great challenge tous to adapt our work to the changing circumstances anddi minish the loss brought by various uncertainties .Option,by enabling the investor to control uncertainrisks at the expense of some cost can effectively li mitlosses and indefinitely increase the potential to grow.This is the most attractive feature of modern option,andf…
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