Present value as a temporal utility of wealth

Krzysztof Piasecki

Abstract

The main aim of this study was to verify that the economically justified non-additive present value function exists.This study carried out assuming fulfilment of the diminishing marginal wealth utility law.Two constant risk aversion coefficient cases were considered. Here were taken into account the absolute coefficient and the relative coefficient. Two different models of discounting functions were obtained as a result of these studies. The formal influence of behavioural factors on the discount was pointed out.
Author Krzysztof Piasecki (WZ / KIiN)
Krzysztof Piasecki,,
- Department of Investment and Real Estate
Pages 138-147
Publication size in sheets0.5
Book Jedlička Pavel (eds.): Hradec Economic Days. Double-blind peer-reviewed proceedings part V.of the international scientific conference Hradec Economic Days 2014, Hradec Economic Days, vol. 4, no. 2, 2014, University of Hradec Králové, ISBN 978-80-7435-370-3, 470 p.
Keywords in Englishpresent value; risk aversion; the First Gossen’s Law
URL https://uni.uhk.cz/hed/site/assets/files/1049/proceedings_2014_5.pdf
Languageen angielski
Score (nominal)15
Score sourceconferenceIndex
ScoreMinisterial score = 10.0, 12-02-2020, BookChapterSeriesAndMatConfByIndicator
Ministerial score (2013-2016) = 15.0, 12-02-2020, BookChapterSeriesAndMatConfByIndicator
Publication indicators WoS Citations = 0
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