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Author
Jarzęcki Marek (Uniwersytet Ekonomiczny w Poznaniu), Mizerka Jacek (Uniwersytet Ekonomiczny w Poznaniu)
Title
Elements of the Prospect Theory in Strategic Investment Games
Elementy teorii perspektywy w podejściu opcyjnym do analizy gier strategicznych
Source
Zeszyty Naukowe Uniwersytetu Szczecińskiego. Finanse, Rynki Finansowe, Ubezpieczenia, 2015, nr 74 T.1, s. 433-446, rys., bibliogr. 21 poz.
Issue title
Rynek kapitałowy, wycena przedsiębiorstw, inwestycje
Keyword
Opcje realne, Teoria gier, Finanse behawioralne, Teoria perspektywy
Real options, Game theory, Behavioural finance, Prospect theory
Note
streszcz., summ..
Abstract
W artykule przedstawiono propozycję podejścia do analizy opcji rzeczywistych w kontekście teorii gier, uwzględniającą elementy teorii perspektywy. Zakłada się ograniczoną racjonalność konkurenta, którego percepcję opisano funkcją oceny i funkcją ważącą. Problem zilustrowano przykładami liczbowymi. Artykuł inicjuje dyskusję dotyczącą konsekwencji dorobku finansów behawioralnych dla analizy opcji rzeczywistych oraz wyceny opcji współdzielonych. (abstrakt oryginalny)

The article proposes a real option game analysis including elements of prospect theory. Bounded rationality of the competitor is assumed, whose perception is described by value and weighting functions. The problem is illustrated by numerical examples. The article initiates the discussion about the implications of behavioural finance achievements for real option games analysis and shared options valuation. (original abstract)
Accessibility
The Library of University of Economics in Katowice
The Main Library of Poznań University of Economics and Business
Szczecin University Main Library
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Bibliography
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ISSN
1640-6818
1733-2842
Language
eng
URI / DOI
http://dx.doi.org/10.18276/frfu.2015.74/1-37
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