[Retracted] Optimization of Tourism Real Estate Development Project Based on Option Premium Model

Table 1

Representative foreign studies of real estate based on real option theory.

Field	Main topics	Representative works
Real estate mortgage	Mortgage pricing	McDonald and Siege [4]
Mortgage-backed security	Design and pricing of mortgage-backed security	Anderson et al. [5]
		Yeh and Lien [6]
Formulation of real estate purchase and sales strategies	Analysis on the housing provident fund system; presale pricing strategy for commercial housing	Yao and Pretorius [7]
Lease design and pricing	Design and pricing of different forms of lease; credit difference analysis under default risk	AlShelahi et al. [8]
Investment in real estate development	Analysis on land price structure; investment decisions on real estate development and redevelopment; conversion and hybrid development decisions between different land uses	Jang et al. [9]
		Dahan [10]
		Glascock et al. [11]