Behavioural Present Value Determined by Ordered Fuzzy Number
AbstractThe starting point for our discussion is the notion of the behavioural present value (BPV) defined by Piasecki as a positive L-R fuzzy number. In this work the information described by BPV is supplemented with a subjective forecast of orientation of the market price trend. This forecast was implemented in the model BPV as an orientation of fuzzy number. In this way the BPV is presented as the ordered fuzzy number. Such defined BPV is applied in order to determine the return rate. Because the FV is a random variable, the return rate is described as an ordered fuzzy probabilistic set. At the end, it is shown that the orientation of the return rate is determined in accordance with the finance theory
|Journal series||SSRN Electronic Journal, ISSN 1556-5068, (0 pkt)|
|Publication size in sheets||0.5|
|Keywords in English||behavioural finance, present value, ordered fuzzy number|
|Score||= 5.0, 12-12-2019, ArticleFromJournal|
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