Behavioural Present Value Defined as Fuzzy Number – a New Approach

Krzysztof Piasecki and Siwek Joanna ()
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Siwek Joanna: Poznań University of Economics and Business, Department of Operations Research, Al. Niepodległości 10, 61-875 Poznań, Poland

Folia Oeconomica Stetinensia, 2015, vol. 15, issue 2, 27-41

Abstract: 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.

Keywords: Behavioural finance; present value; fuzzy number; financial equilibrium; market equilibrium (search for similar items in EconPapers)
JEL-codes: C02 C44 G10 (search for similar items in EconPapers)
Date: 2015
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Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:vrs:foeste:v:15:y:2015:i:2:p:27-41:n:2

DOI: 10.1515/foli-2015-0033

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