Andrey Panchenko , Artem Abrakhmanov Published in:
Russian Journal of Entrepreneurship
– № 10 / May, 2014



Keywords: binomial method for evaluation of options, Black-Scholes formula, cost-effectiveness assessment, decision tree, innovative project, real options, simulation modeling


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Abstract:

The article outlines the key problems of assessment of the efficiency of innovative projects. The relevance of the application of real options in such assessments has been proved. The authors present the algorithm they have developed for assessment of projects with use of the method of successive options, taking into account the stage-order of innovative projects. A method for risk assessment of innovative projects in the conditions of lack of information is provided. The authors’ model for evaluation of real options based on the simulation modeling is presented.

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