The Determination of Port Facilities Management Fee with Guaranteed Volume Using Options Pricing Model
build-and-lease contract ； guarantee volume ； real options ； black-scholes formula
Journal of Marine Science and Technology
|Volume or Term/Year and Month of Publication||
13卷1期（2005 / 03 / 01）
54 - 60
This paper proposes a procedure to calculate the port facilities management fee (MF) in a build-and-lease (BL) contract with guaranteed volume (GV). The MF pricing problem exists in the contracts concluded by the lessees of port facilities and harbor bureaus for a long time. The problem is solved by analyzing the property of GV firstly, and then taking the real option approach to find the MF in BL contracts with GV. Finally, to demonstrate the method a real BL contract with GV is provided and its MF is calculated in this paper.
工程學 > 市政與環境工程