The expected discount factor determined for present value given as ordered fuzzy number
Krzysztof Piasecki , Anna Łyczkowska-Hanćkowiak
AbstractThe starting point for our discussion is the present value (PV) determined by means of positive fuzzy number. The information described by the so-determined PV may be supplemented with a subjective forecast of the sense trend of observed current market price. This forecast is implemented in the supplemented PV model, as the orientation of fuzzy number. The prediction of rise in market price is described as a positive orientation of ordered fuzzy number. In analogous way, the prediction of fall market price is described as the negative orientation of ordered fuzzy number. In this way, PV is presented as ordered fuzzy number. So specified PV is used for determine the simple return rate. With the assumption that the FV is a random variable under Gaussian distribution of probability, discount factor is described as ordered fuzzy random variable. At the end it is shown that the expected discount factor is determined as ordered fuzzy number. The orientation of expected discount factor is consistent with orientation of the PV defining it.
|Publication size in sheets||0.5|
|Book||Szkutnik Włodzimierz, Sączewska-Piotrowska Anna, Hadaś-Dyduch Monika, Acedański Jan (eds.): 9th International Scientific Conference: Analysis of International Relations 2018. Methods and Models of Regional Development. Winter Edition. Conference Proceedings, 2018, Wydawnictwo Uniwersytetu Ekonomicznego w Katowicach, ISBN 978-83-7875-421-3, [978-83-7875-420-6], 198 p.|
|Keywords in Polish||oczekiwany czynnik dyskontowy, zoorientowana wartość bieżąca|
|Keywords in English||present value, ordered fuzzy number, discount factor|
|Score||= 20.0, 24-06-2020, ChapterFromConference|
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