scholarly journals Behavioural Present Value Defined as Fuzzy Number – a New Approach

2015 ◽  
Vol 15 (2) ◽  
pp. 27-41 ◽  
Author(s):  
Krzysztof Piasecki ◽  
Joanna Siwek
Keyword(s):  
Financial Market ◽  
Fuzzy Number ◽  
Formal Model ◽  
Market Equilibrium ◽  
Present Value ◽  
New Approach ◽  
Behavioural Factors ◽  
The Impact ◽  
Numerical Case Study

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.

scholarly journals Intuitionistic Assessment Of Behavioural Present Value*

2014 ◽  
Vol 13 (2) ◽  
pp. 49-62 ◽  
Author(s):  
Krzysztof Piasecki
Keyword(s):  
Fuzzy Set ◽  
Formal Model ◽  
Intuitionistic Fuzzy Set ◽  
Value Assessment ◽  
Present Value ◽  
Intuitionistic Fuzzy ◽  
Behavioural Factors ◽  
The Impact

Abstract The article discussesd the impact of chosen behavioural factors on the imprecision of present value assessment. The formal model of behavioural present value is offered as a result of this discussion. The behavioural present value is described here as an intuitionistic fuzzy set. The significance of the replacement of a fuzzy set by an intuitionistic fuzzy set is proved.

scholarly journals On Present Value Evaluation under the Impact of Behavioural Factors Using Oriented Fuzzy Numbers

Symmetry ◽  
2021 ◽  
Vol 13 (3) ◽  
pp. 468
Author(s):  
Krzysztof Piasecki ◽  
Anna Łyczkowska-Hanćkowiak
Keyword(s):  
Fuzzy Numbers ◽  
Asset Price ◽  
Financial Knowledge ◽  
Present Value ◽  
Market Knowledge ◽  
Value Evaluation ◽  
Starting Point ◽  
Behavioural Factors ◽  
Objective Financial Knowledge ◽  
The Impact

In general, the present value (PV) concept is ambiguous. Therefore, behavioural factors may influence on the PV evaluation. The main aim of our paper is to propose some method of soft computing PV evaluated under the impact of behavioural factors. The starting point for our discussion is the notion of the Behavioural PV (BPV) defined as an imprecisely real-valued function of distinguished variables which can be evaluated using objective financial knowledge or subjective behavioural premises. In our paper, a BPV is supplemented with a forecast of the asset price closest to changes. Such BPV is called the oriented BPV (O-BPV). We propose to evaluate an O-BPV by oriented fuzzy numbers which are more useful for portfolio analysis than fuzzy numbers. This fact determines the significance of the research described in this article. O-BPV may be applied as input signal for systems supporting invest-making. We consider here six cases of O-BPV: overvalued asset with the prediction of a rise in its price, overvalued asset with the prediction of a fall in its price, undervalued asset with the prediction of a rise in its price, undervalued asset with the prediction of a fall in its price, fully valued asset with the prediction of a rise in its rice and fully valued asset with the prediction of a fall in its rice. All our considerations are illustrated by numerical examples. Presented examples show the way in which we transform superposition of objective market knowledge and subjective investment opinion into simple return rate.

scholarly journals The Use of Trapezoidal Oriented Fuzzy Numbers in Portfolio Analysis

Symmetry ◽  
2021 ◽  
Vol 13 (9) ◽  
pp. 1722
Author(s):  
Anna Łyczkowska-Hanćkowiak
Keyword(s):  
Fuzzy Number ◽  
Fuzzy Numbers ◽  
Portfolio Analysis ◽  
Discount Factor ◽  
Weighted Sum ◽  
Investment Portfolio ◽  
Present Value ◽  
Discount Factors ◽  
Theoretical Considerations

Oriented fuzzy numbers are a convenient tool to manage an investment portfolio as they enable the inclusion of uncertain and imprecise information about the financial market in a portfolio analysis. This kind of portfolio analysis is based on the discount factor. Thanks to this fact, this analysis is simpler than a portfolio analysis based on the return rate. The present value is imprecise due to the fact that it is modelled with the use of oriented fuzzy numbers. In such a case, the expected discount factor is also an oriented fuzzy number. The main objective of this paper is to conduct a portfolio analysis consisting of the instruments with the present value estimated as a trapezoidal oriented fuzzy number. We consider the portfolio elements as being positively and negatively oriented. We test their discount factor. Due to the fact that adding oriented fuzzy numbers is not associative, a weighted sum of positively oriented discount factors and a weighted sum of negatively oriented factors is calculated and consequently a portfolio discount factor is obtained as a weighted addition of both sums. Also, the imprecision risk of the obtained investment portfolio is estimated using measures of energy and entropy. All theoretical considerations are illustrated by an empirical case study.

Virtually There: The Potential, Process and Problems of Using 360° Video in the Classroom

10.28945/4317 ◽  
2019 ◽  
Keyword(s):  
Teaching Experience ◽  
Future Research ◽  
Teaching Staff ◽  
Image Capture ◽  
New Approach ◽  
Online Spaces ◽  
The Impact ◽  
Interactive Experience

[This Proceedings paper was revised and published in the 2019 issue of the journal Issues in Informing Science and Information Technology, Volume 16] Aim/Purpose: This paper presents an exploratory case study into using 360° videos to present small segments of lecture content for IT students in an Australian University. The aim of this study was to understand; what is the impact of incorporating 360° videos into class content for students and teaching staff? In this study the 360° videos are described as “learning atoms”. Learning atoms are short duration videos (1 to 5 minutes) captured in 360°. Background: Within this paper we conducted experiments in the classroom using 360° videos to determine if they have an impact on student's feeling of presence with class content. Additionally, to follow up, how does the inclusion of 360° impact on the teaching experience. Methodology: The methodology used in this study focused on both quantitative and qualita-tive aspects. Data was captured at the same time during the teaching period to address the research questions. In order to gauge the feeling of presence within the classroom a short survey was administered to students in the undergraduate IT class at the start (pre) and end (post) of the semester using the same questions to measure any change. Contribution: The main contributions from this study were that we demonstrated there is a potential for providing an alternative ‘immersive’ content presentation for students. This alternative content took the form of 360° learning atoms, whereas further showed our nuance process for creating and publishing of these atoms. Findings: The results show that for students, learning atoms can help improve the sense of presence, particularly for remote students, however the interactive experience can take student’s attention away from the lecturer. The results present potential for providing an alternative ‘immersive’ content presentation for students, however problems for uptake are present for both students and teachers, such as image capture quality and file size Impact on Society: We foresee this approach as being a new approach to teaching students in higher education within online spaces to increase engagement and move towards having a richer virtual experience no matter the location. Future Research: Future research will be conducted to resolve whether presence and engagement is supported by the inclusion of 360° videos in the classroom.

scholarly journals Present value of firm asset in case of correlated defaults: a generalized structural approach of credit risk

2007 ◽  
Vol 47 ◽  
Author(s):  
Mantas Valužis
Keyword(s):  
Credit Risk ◽  
Financial Market ◽  
Structural Approach ◽  
Present Value ◽  
Brownian Motions ◽  
Value Of Firm ◽  
Correlated Defaults ◽  
Geometric Brownian Motions ◽  
The Impact ◽  
Implied Correlation

This article investigatesthe present value of a firm’s asset in the case of n \geq 2 correlateddefaults. The structural approach of credit risk is developed in the case when default boundaries follow geometric Brownian motions. Correlated defaults are defined by the implied correlation of Brownian motions. The operational risk and the risk of financial market changes are allowed in this model. Also, the impact of implied correlation to the present value of firm’s asset is shown numerically.

Improving Design Resource Management Using Bayesian Network Embedded in Task Network Method

2016 ◽  
Author(s):  
Hilario Lorenzo Xin Chen ◽  
Marie-Lise Moullec ◽  
Nigel Ball ◽  
P. John Clarkson
Keyword(s):  
Resource Management ◽  
Management Decision ◽  
New Approach ◽  
Performance Targets ◽  
Computational Testing ◽  
Management Decision Making ◽  
Design Activities ◽  
The Right ◽  
The Impact

In Product Development (PD), there is an inherent complexity in deciding what resources should perform which tasks taking into account their effectiveness towards completing the task, while adjusting to their availabilities. The right resources must be applied to the right tasks in the correct order. In this context, process modeling and simulation could aid in resource management decision making. However, most approaches define resources as elements needed to perform the activities without defining their characteristics, or use a single classification such as “designers”. Despite their crucial importance to the delivery of the product, resources such as computational hardware, software, testing resources, amongst others have been overlooked during process planning stages. This paper presents a new method to model different resource types (designers, computational, testing) and studies the impact of using different options of those resources by simulating the model and analyzing the results. Thus, the new approach, which extends a task network model with Bayesian Networks (BN), allows testing the influence of using different resources on process performance. The method uses BN within each task to model different instances of resources that carries out the design activities (computational, designers and testing) along with its configurable attributes (time, risk, learning curve etc.), and tasks requirements. Thus, activity behavior is shaped depending on the chosen resource option to perform it. The approach enhances the capability to explore resource combination design space. It was applied to an aerospace case study to identify insights such as the best performing resource combinations, critical resources, resource sensitive activities, and the probability of a resource reaching performance targets.

scholarly journals A New Approach for Diagonal Line Model of Importance-Performance Analysis: A Case Study of Tourist Satisfaction in China

SAGE Open ◽  
2021 ◽  
Vol 11 (1) ◽  
pp. 215824402198927
Author(s):  
Jih-Kuang Chen
Keyword(s):  
Performance Analysis ◽  
Partial Correlation ◽  
Importance Value ◽  
Line Model ◽  
New Approach ◽  
Diagonal Line ◽  
Tourist Satisfaction ◽  
The Impact ◽  
Direct Measures

Two types of importance-performance analysis (IPA), quadrant model and diagonal line model, are applied widely. Some studies have described the advantages of the diagonal line model, but multiple studies have reported disadvantages of direct measures of importance, as used in the traditional diagonal line model. In addition, there is no clear rationale for the use of a 45-degree diagonal line as a distinguishing line in the diagonal line model. This study used the partial correlation coefficient-base of attributes corresponding to overall satisfaction to measure a new importance value to replace direct importance in the traditional method. The new diagonal line reflects the average of the slope formed by the impact of various attributes on overall satisfaction, rather than a 45-degree diagonal line. The new approach was successfully applied to determine a management strategy of tourist satisfaction, and the results confirm the rationality of the studied case and were considered reasonable by appropriate managers.

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