Pengbo Yang, Rong Gao
Abstract: The characteristic towns crowd-funding is a new type of financial service based on the Internet, which provides new financing channels for the construction of characteristic towns. Based on the existing relevant research, real option theory and B-S pricing model, this paper discusses the option features of crowd-funding model in characteristic town, and establishes the real option pricing model. The real option can be regarded as a more scientific and effective pricing method.
Keywords: Real option, characteristic town, crowd-funding