摘要
个人房地产投资的研究长期以来为房地产实物期权投资理论所忽视。在房地产价格随机性条件下对房产投资者是租房还是买房的投资时机决策问题进行建模研究,给出最优停止决策的最优阀值及相关结论。同时给出模型的政策含义。
Up to now many existing literatures of real estate investment under real options' framework have been overlooked the (individual) real estate investment. This paper puts a model for the renting-or-buying problem under the stochastic price of real estate and solves the problem with a series of conclusions. We, simultaneously, investigate the policy implications of the model.
出处
《系统工程》
CSCD
北大核心
2005年第1期28-32,共5页
Systems Engineering
基金
高等学校博士点科研基金资助项目(20020248020)
关键词
房地产
租-买投资
最优时机
停时
Real Estate
Renting-Buying Investment
The Optimal Stopping Time
