Behavioural Present Value Defined as Fuzzy Number – a New Approach

• Authors: Krzysztof Piasecki , Joanna Siwek
• Languages of publication: EN

Abstracts

EN

The behavioural present value is defined as a fuzzy number assessed under the impact of chosen behavioural factors. The first formal model turned out to be burdened with some formal defects which are finally corrected in the presented article. In this way a new modified formal model of a behavioural present value is obtained. New model of the behavioural present value is used to explain the phenomenon of market equilibrium on the efficient financial market remaining in the state of financial imbalance. These considerations are illustrated by means of extensive numerical case study.

Keywords

EN

Behavioural finance; present value; fuzzy number; financial equilibrium; market equilibrium; C02; C44; G10

• Publisher: Sciendo
• Journal: Folia Oeconomica Stetinensia
• Year: 2015
• Volume: 15
• Issue: 2
• Pages: 27-41

Dates

published

2015-12-01

received

2015-03-30

accepted

2015-12-03

online

2016-04-30

Contributors

author

Krzysztof Piasecki

• Poznań University of Economics and Business, Department of Operations Research, Al. Niepodległości 10, 61-875 Poznań, Poland

author

Joanna Siwek

• Poznań University of Economics and Business, Department of Operations Research, Al. Niepodległości 10, 61-875 Poznań, Poland

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Identifiers

DOI

10.1515/foli-2015-0033