Option Pricing Procedure for Venture Investment Projects in Case of Incomplete Information

Presently, many fruitful researches have been conducted in the field of venture capital investment. A great variety of writings can be found on valuation indicator system of venture projects, venture investment project pricing, and game issues arising from the venture capital investment process, etc. However, there are seldom researches which introduce the incomplete-information-game thinking to venture investment project pricing. Therefore, this paper presents an assessment indicator system of venture investment project including several critical indicators, based on which a real option pricing model is introduced. And then the incomplete-information-game theory is adopted so as to construct a procedure system for venture investment project pricing in case of incomplete information. Ultimately, the results are obtained and interpreted, and issues to be covered in further researches are suggested.