| Project/Area Number |
05451162
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| Research Category |
Grant-in-Aid for General Scientific Research (B)
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| Allocation Type | Single-year Grants |
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| Research Field |
社会システム工学
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| Research Institution | TOKYO INSTITUTE OF TECHNOLOGY |
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Principal Investigator |
FURUKAWA Kouichi Faculty of Engineering, Tokyo Institute of Technology Professor, 工学部, 教授 (20016455)
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| Co-Investigator(Kenkyū-buntansha) |
NAKASATO Munenori Aoyama Gakuin Univ., Lecture, 国際政治経済学部, 講師 (90207754)
YAZIMA Yasutoshi Graduate School of Information Science and Engineering, Tokyo Institute of Techn, 大学院・情報理工学研究科, 講師 (80231645)
SHIRAKAWA Hiroshi Faculty of Engineering, Tokyo Institute of Technology, Associate Professor, 工学部, 助教授 (10216187)
MORI Masao Faculty of Engineering, Tokyo Institute of Technology, Professor, 工学部, 教授 (80016568)
KONNO Hiroshi Faculty of Engineering, Tokyo Institute of Technology, Professor, 工学部, 教授 (10015969)
蜂谷 豊彦 東京工業大学, 工学部, 助手 (00251645)
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| Project Period (FY) |
1993 – 1995
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| Project Status |
Completed (Fiscal Year 1995)
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| Budget Amount *help |
¥4,300,000 (Direct Cost: ¥4,300,000)
Fiscal Year 1995: ¥1,000,000 (Direct Cost: ¥1,000,000)
Fiscal Year 1994: ¥1,000,000 (Direct Cost: ¥1,000,000)
Fiscal Year 1993: ¥2,300,000 (Direct Cost: ¥2,300,000)
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| Keywords | Capital Market / Investment / Chaos / Real Option / Equilibrium / Hysteresis / Non-homogeneous investor / Heuristic approach / ポートフォリオ / オプション / 最適化 / カオス / 時系列 / 資本コスト / 数理計画 |
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| Research Abstract |
This research is constitute of two part. First is equilibrium and disequilibrium of capital market. An analysis with chaos theory make clear that capital market parameters give considerable effects on process of moving from disequilibrium to equilibrium. Another research derives a necessary and sufficient condition for the existence of a non-negative equilibrium price vector in a non-homogeneous capital market. A research for a bid-ask relation make clear any bidder's expected utility increases with an increase in size of collusion.
Second part of this research is related with firm's investment decisions. First research is about an possibility of adoption of a real option approach to selection of production points in foreign countries. The result shows it is possible and hysteresis gives considerable effects on decisions of switching production points. Another research deals with a scheduling of research and development projects management always faces in decision of investment to R&D projects using a heuristic approach.
I assert initial objectives are achieved sufficiently.
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