kkyy · 2020年09月15日
* 问题详情，请 查看题干
问题如下：
4. Are Goldberg’s comments about real options correct?
选项：
A.No for Comment 1 and Comment 2.
B.No for Comment 1 and Yes for Comment 2.
C.Yes for Comment 1 and No for Comment 2.
解释：
B is correct.
Goldberg’s first comment is wrong. A project should be abandoned in the future only when its abandonment value is more than the discounted value of the remaining cash flows. Goldberg’s second comment is correct.
abandoment value的公式是什么？我以为是一个项目如果中途停止了的话的NPV at time0
NO.PZ201601200500000904问题如下4. Are Golerg’s comments about reoptions correct?A.No for Comment 1 anComment 2.B.No for Comment 1 anYes for Comment 2.C.Yes for Comment 1 anNo for Comment 2.B is correct.Golerg’s first comment is wrong. A projeshoulabannein the future only when its abannment value is more ththe scountevalue of the remaining cash flows. Golerg’s seconcomment is correct. 根据老师上课的例子，这个option value 就是执行option 以后 多出来的那块价值 ，比如我们计算不含权的 operating =30, 如果含权的operating CF=40，那么多出来的10，就是option value。如果 option cost npv(所有的10）的话， 那么最终的 含权npv 就会比不含权npv大。 应该是这样子吧？
NO.PZ201601200500000904 放弃期权不是期初支付一笔钱，未来如果项目需求低就可以行使放弃期权，后面的现金流就都是0了嘛。 解析当中出现的origininvestment 我认为可以相当于期权的成本其实也等于期权的价值了，因为后面没有现金流了。可以这么理解吗
NO.PZ201601200500000904 No for Comment 1 anYes for Comment 2. Yes for Comment 1 anNo for Comment 2. B is correct. Golerg’s first comment is wrong. A projeshoulabannein the future only when its abannment value is more ththe scountevalue of the remaining cash flows. Golerg’s seconcomment is correct. 评论1说的是不是当要放弃的项目未来现金流折现总和大于初始投入，放弃投资的权利是有价值的？评论2题目没明白啥意思
请问第一个错在哪里，谢谢
