Behavioural Present Value Defined as Fuzzy Number - a New Approach

Krzysztof Piasecki , Joanna Siwek


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.
Author Krzysztof Piasecki (WZ / KIiN)
Krzysztof Piasecki,,
- Department of Investment and Real Estate
, Joanna Siwek (WIiGE / KBO)
Joanna Siwek,,
- Department of Operations Research
Journal seriesFolia Oeconomica Stetinensia, ISSN 1730-4237, e-ISSN 1898-0198, (B 11 pkt)
Issue year2015
Publication size in sheets0.7
Keywords in Englishbehavioural finance, present value, fuzzy number, financial equilibrium, market equilibrium
Languageen angielski
Score (nominal)11
Score sourcejournalList
ScoreMinisterial score = 11.0, 30-12-2019, ArticleFromJournal
Ministerial score (2013-2016) = 11.0, 30-12-2019, ArticleFromJournal
Citation count*29 (2020-09-18)
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