The Application of Fuzzy Real Option Theory in the Venture Investment Value Evaluation

Based on the analysis of the tradition Net Present Value method,this paper introduces the real option theory in the venture investment.But existing research results assume that the present values of expected cash flows and expected costs are crisp values.Actually,there is a high uncertainty in venture investment,so this assumption is unpractical.They are assumed to be fuzzy numbers and the method of fuzzy real option is applied in decision-making.