Valuation of Guaranteed Maximum Price Contracts in Korea Using the Collar Option Model

Table 1

Basic information of sample projects.

Category	Classification	Project number (%)
Owner type	Public	331 (100.0)
	Private	0 (0.0)
Project type	Residential	331 (100.0)
	Nonresidential	0 (0.0)
G.F.A (m^2)	∼50,000	132 (39.88)
	50,000∼100,000	158 (47.73)
	100,000∼150,000	30 (9.06)
	150,000∼200,000	10 (3.02)
	200,000∼	1 (0.30)
Project period (month)	∼20	31 (9.37)
	20∼30	273 (82.48)
	30∼40	25 (7.55)
	40∼	2 (0.60)