Impact of chosen behavioural factors on imprecision risk burdening present value is discussed here. The formal model of behavioural present value is offered as a result of this discussion. Behavioural present value is described here by fuzzy set. These considerations were illustrated by means of...

The 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...

The return rate in imprecision risk may be described as a fuzzy probabilistic set (Piasecki, 2011a). Properties of this return are considered in (Piasecki, 2011b) for any probability distribution of future value. On the other side, in (Piasecki, Tomasik, 2013) is shown that the Normal Inverse...

The main goal of this paper is presentation a modern axiomatic approach to financial arithmetic. At the first, the axiomatic financial arithmetic theory was proposed by Peccati who has introduced the axiomatic definition of the future value. This theory has been extensively developed in past...

In the paper the authors presented analysis of fitting the following distributions: normal, t-Student, α-stable, hyperbolic, generalized hyperbolic, normal inverse Gaussian, generalized hyperbolic t-Student and general error distribution to the empirical series of WIG20 returns in the situation...

The family of effective financial instruments was described as an Atanassov intuitionistic set. Obtained model was applied for the choice of components of financial portfolio. For last, an empirical example was shown and was discussed

Credit risk assessment usually is a complex process which consists of many successive steps and numerous criteria. Selection of good customers and rejection of potentially bad ones is vital as it directly and significantly affects the quality of bank's credit portfolio. Also, ordering the...

Banks faced many difficulties related to lax credit standards. The effective management of credit risk is a critical component of a comprehensive approach to risk management and it should maintain credit risk exposure within acceptable parameters. However, the problem arises when standards are...

In a rapidly changing environment, it becomes extremely important to anticipate future changes and developments. A key element of strategic action and policy-making is now to recognise the possibility of alternative futures, and to implement strategy that makes the best alternative possible. The...

The main aim of this study is to describe temporal risk aversion impact on the present value. Here the case of continuous time is considered only. Some initial problem with differential equation is obtained as a result of these studies. Then the discounting function is given as the unique...