On return rate implied by behavioural present value
AbstractThe future value of a security is described as a random variable. Distribution of this random variable is the formal image of risk uncertainty. On the other side, any present value is defined as a value equivalent to the given future value. This equivalence relationship is a subjective. Thus follows, that present value is described as a fuzzy number, which is depend on the investor's susceptibility to behavioural factors. All above reasons imply, that return rate is given as a fuzzy probabilistic set. The basic properties of such image of return rate are studied. At the last the set of effective securities is distinguished as a fuzzy set.
|Journal series||SSRN Electronic Journal, ISSN 1556-5068, (0 pkt)|
|Publication size in sheets||0.5|
|Keywords in English||behavioural present value, effective financial instrument, fuzzy probabilistic set|
|Score|| = 0.0, 13-12-2019, ArticleFromJournal|
= 5.0, 13-12-2019, ArticleFromJournal
|Publication indicators||= 0|
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