建材交易的期权管理模式探究  

A Research on the Option Management Mode for Building Material Transaction

作　　者：李长磊[1] 张建高[1] 曾益明[2] 

机构地区：[1]重庆大学建设管理与房地产学院,重庆400044 [2]浙江大学建筑工程学院,杭州310058

出　　处：《科学决策》2010年第9期73-79,共7页Scientific Decision Making

摘　　要：涉及大宗建材交易,交易双方往往都要承担很大的价格风险,不同时点风险又过于集中到交易一方,基于期权理论提出建材交易的期权管理模式作为解决该问题的新思路。首先论证解决建材价格波动问题的必要性,接着介绍建材交易期权管理模式的框架构成,最后借助期权定价模型和CrystalBall软件来计算建材期权的理论价格,并进行了实例验证。运作该模式的目的是统筹管理一定时域、地域上的建材交易业务,来实现交易双方持续、协调和稳定的发展。Referring to the vast building material transaction, both Seller and Buyer would tolerate great risk of the price, directing toward at one side in different time frequently. Option management mode for building material transaction basing on the theory of op- tion would be proposed as a new solution to this problem. The necessity of resolving the price fluctuation should be demonstrated first, and then introduced the frame constitution of this mode. At last, it was to calculate the theoretical price of building material option with the option pricing model and Crystal Ball software, and carry out example to validate it. The purpose of the operation this mode was to overall the management of building materials trading business in a certain time - domain and region, so as to a- chieve both sides＇ continuous, coordinated and stable development.

关 键 词：建材交易 期权管理模式 二叉树定价模型 布莱克-斯科尔斯模型 

分 类 号：F724.5[经济管理—产业经济]