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灰飞翔的猫 · 2024年09月04日

不是很理解选项B

NO.PZ2023090506000026

问题如下:

Which of the following statements about real options is accurate?

选项:

A.

Real options provide companies the ability to abandon projects with poor profitability.

B.

Option pricing models give the most precise estimates of a real option’s value.

C.

Real options enable a refinery to hedge against future crude oil price fluctuations.

解释:

A is correct. An abandonment option is a type of real option, which allows a company to abandon the investment after it is undertaken.

B is incorrect because even though real options can be priced using option pricing models, the estimates require multiple unobservable inputs, such as probabilities of events and timing of their occurrence. The complexity does not necessarily improve accuracy.

C is incorrect because real options provide companies with flexibility with regard to future decisions; however, they do not allow the hedging of commodity prices. The risk of crude oil price changes can be hedged using financial options, not real options​​.

如题

1 个答案
已采纳答案

Kiko_品职助教 · 2024年09月05日

嗨,爱思考的PZer你好:


B说期权定价模型对实物期权的价值给出了最精确的估计。这句话是错误的。尽管可以使用期权定价模型对实物期权进行定价,但是估计需要很多个无法观测到的input,例如事件的概率及其发生的时间。所以也无法做到最精确的估计。

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