Results calculated by using financial options pricing model (10) and real option pricing model (12).
The current price of asset
Financial call option
Real options
10
0.36
−18.88
−37.86
−55.97
−67.88
20
2.16
−16.35
−34.07
−49.78
−57.88
30
5.38
−12.16
−28.45
−41.98
−47.88
40
9.75
−6.77
−21.68
−33.38
−37.88
50
15.01
−0.50
−14.14
−24.34
−27.88
60
20.99
6.43
−6.08
−15.03
−17.88
70
27.53
13.86
2.38
−5.54
−7.88
80
34.53
21.68
11.11
4.07
2.12
90
41.90
29.83
20.07
13.77
12.12
100
49.60
38.22
29.19
23.52
22.12
200
136.26
129.60
124.93
122.54
122.12
300
230.64
226.33
223.55
222.30
222.12
400
327.74
324.76
322.95
322.21
322.12
500
426.05
423.89
422.65
422.17
422.12
Note: . Columns 3, 4, 5, and 6 correspond to values of 0.75 108, 0.5 108, 0.25 108, and 0, respectively. The magnitude of the data in the table is 106.
