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Datar-Mathews method is based on using Monte Carlo simulation within a probabilistic valuation framework, while the fuzzy pay-off method relies on modeling the real option valuation by using fuzzy numbers in a possibilistic space. The results show that real option valuation results from the two methods seem to be consistent with each other. The fuzzy pay-off method is more robust and is also usable when not enough information is available for a construction of a simulation model.<\/jats:p>","DOI":"10.1155\/2016\/7836784","type":"journal-article","created":{"date-parts":[[2016,10,12]],"date-time":"2016-10-12T21:07:24Z","timestamp":1476306444000},"page":"1-7","source":"Crossref","is-referenced-by-count":4,"title":["Comparison of the Datar-Mathews Method and the Fuzzy Pay-Off Method through Numerical Results"],"prefix":"10.47654","volume":"2016","author":[{"ORCID":"https:\/\/orcid.org\/0000-0002-6952-7682","authenticated-orcid":true,"given":"Mariia","family":"Kozlova","sequence":"first","affiliation":[{"name":"School of Business and Management, Lappeenranta University of Technology, Lappeenranta, Finland"}]},{"ORCID":"https:\/\/orcid.org\/0000-0003-2976-2829","authenticated-orcid":true,"given":"Mikael","family":"Collan","sequence":"additional","affiliation":[{"name":"School of Business and Management, Lappeenranta University of Technology, Lappeenranta, Finland"}]},{"ORCID":"https:\/\/orcid.org\/0000-0003-0124-6646","authenticated-orcid":true,"given":"Pasi","family":"Luukka","sequence":"additional","affiliation":[{"name":"School of Business and Management, Lappeenranta University of Technology, Lappeenranta, Finland"}]}],"member":"52777","reference":[{"issue":"4","key":"1","first-page":"355","volume":"8","year":"2002","journal-title":"Journal of Business and Management"},{"key":"2","doi-asserted-by":"publisher","DOI":"10.1080\/00137910701503910"},{"key":"3","doi-asserted-by":"publisher","DOI":"10.1016\/s0304-405x(01)00044-7"},{"year":"1995","key":"4"},{"year":"1998","key":"5"},{"key":"6","doi-asserted-by":"publisher","DOI":"10.1086\/260062"},{"key":"7","doi-asserted-by":"publisher","DOI":"10.1016\/0304-405x(79)90015-1"},{"key":"9","doi-asserted-by":"publisher","DOI":"10.1061\/(ASCE)CO.1943-7862.0000443"},{"key":"10","doi-asserted-by":"publisher","DOI":"10.1016\/j.enpol.2015.09.034"},{"year":"1996","key":"11"},{"key":"12","doi-asserted-by":"publisher","DOI":"10.1111\/j.1745-6622.2007.00140.x"},{"first-page":"157","volume-title":"Business engineering: a practical approach to valuing high-risk, highreturn projects using real options","year":"2007","key":"13"},{"key":"14","first-page":"45","volume":"14","year":"2004","journal-title":"Journal of Applied Finance"},{"key":"15","doi-asserted-by":"publisher","DOI":"10.1016\/j.eneco.2009.02.004"},{"key":"16","doi-asserted-by":"publisher","DOI":"10.1016\/j.ejor.2012.01.017"},{"key":"17","doi-asserted-by":"publisher","DOI":"10.1016\/j.enpol.2012.12.019"},{"key":"18","doi-asserted-by":"publisher","DOI":"10.1016\/j.rser.2012.01.025"},{"key":"19","doi-asserted-by":"publisher","DOI":"10.1155\/2009\/238196"},{"year":"2012","key":"20"},{"key":"21","series-title":"Studies in Fuzziness and Soft Computing","doi-asserted-by":"crossref","first-page":"225","DOI":"10.1007\/978-3-642-24666-1_16","volume-title":"A quantitative view on quasi fuzzy numbers","volume":"271","year":"2012"},{"key":"22","doi-asserted-by":"publisher","DOI":"10.1007\/978-3-642-22642-7"},{"key":"23","doi-asserted-by":"publisher","DOI":"10.1007\/s00170-011-3364-9"},{"issue":"5","key":"24","first-page":"377","volume":"16","year":"2011","journal-title":"Journal of Intellectual Property Rights"},{"issue":"1","key":"25","first-page":"21","volume":"16","year":"2011","journal-title":"Fuzzy Economic Review"},{"year":"2011","key":"26"},{"key":"28","doi-asserted-by":"publisher","DOI":"10.1080\/09640560120033731"},{"first-page":"1475","volume-title":"A prototype decision making tool of coal mine planning using system dynamics model","year":"2014","key":"29"},{"key":"30","doi-asserted-by":"publisher","DOI":"10.1002\/sdr.433"},{"issue":"2","key":"31","first-page":"5","volume":"50","year":"2011","journal-title":"Acta Universitatis Palackianae Olomucensis. 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