Évaluation de risques controversés par la théorie des options réelles

Robert Kast, André Lapied (), Sophie Pardo and Camelia Protopopescu ()

Economie & Prévision, 2001, vol. 149, issue 3, 51-63

Abstract: Public decision-making and risk assessment in such fields as environmental risk, industrial risk, disaster insurance, and health and unemployment insurance require dynamics to be taken into account and generally give rise to controversy. In order to use real options theory for these fields, we propose methods for constructing a virtual underlying security on the basis of a portfolio of traded assets. Real options theory will take care of dynamic aspects of the decision-making process while construction of the virtual underlying security takes account of various levels of controversy.

Keywords: Real options; risks; collective choice; functional correlation coefficient; Kendall's tau coefficent (search for similar items in EconPapers)
Date: 2001
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Journal Article: Évaluation de risques controversés par la théorie des options réelles (2001)
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