Fuzzy multicriteria R&D project selection with a real options valuation model


Tolga A. C.

JOURNAL OF INTELLIGENT & FUZZY SYSTEMS, cilt.19, ss.359-371, 2008 (SCI İndekslerine Giren Dergi) identifier identifier identifier

  • Cilt numarası: 19
  • Basım Tarihi: 2008
  • Doi Numarası: 10.1111/risa.13391
  • Dergi Adı: JOURNAL OF INTELLIGENT & FUZZY SYSTEMS
  • Sayfa Sayıları: ss.359-371

Özet

Real options valuation is a financial technique for evaluating investments under conditions of uncertainty, particularly uncertainty associated with market variables such as future product demand or the future value of an asset. The real option value of the investment opportunity is what a value-maximizing firm would pay the right to undertake the investment project with its inherent decision points. This paper proposes a fuzzy multi-criteria R&D project selection methodology based on the hierarchical fuzzy TOPSIS, which includes a fuzzy real options valuation model.