个人房地产购置时机选择的最优停时分析  

Investment Timing Choice for Individual Real Estate Based on Optimal Stopping Time Approach

作　　者：蔡晓钰[1] 韩丽川[2] 吴圣佳[2] 

机构地区：[1]上海交通大学 [2]上海交通大学管理学院

出　　处：《系统工程》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)

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.

关 键 词：房地产 租-买投资 最优时机 停时 

分 类 号：F830.59[经济管理—金融学]