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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. [ABSTRACT FROM AUTHOR]

From the perspective of each evaluation criterion, any decision alternative is evaluated by means of trapezoidal ordered fuzzy numbers (TrOFN). This approach is justified in the way that some criteria are linguistically evaluated. In this paper, decision alternatives are evaluated using oriented fuzzy Simple Additive Weighting (OF-SAW) scoring function. The ranking of alternatives may be defined by means of a nonincreasing sequence of defuzzified values of a scoring function. Any defuzzification procedure distorts ordered fuzzy numbers in a way that information on imprecision and orientation is lost. This undermines the credibility of the determined alternatives' ranking. The main purpose of this paper is to avoid the defuzzification stage in the OF-SAW method. Thus, the OF-SAW method is equipped with fuzzy scoring order. This OF-SAW method is described as a negotiation scoring system. We study an empirical example of the OF-SAW application and rank some negotiation offers. Here, we focus on the effects of replacing the defuzzified scoring function by a fuzzy one. The obtained conclusions are generalized for the case of any decision alternatives. [ABSTRACT FROM AUTHOR]

In this paper, the model of imprecise quantity information is an ordered fuzzy number. The purpose of our study is to propose some methods of approximating any ordered fuzzy number using a trapezoidal ordered fuzzy number. The information ambiguity is evaluated by means of an energy measure. The information indistinctness is evaluated by Kosko's entropy measure. We discuss the problem of approximation of an arbitrary ordered fuzzy number by the nearest trapezoidal ordered fuzzy number. This way, we can simplify arithmetical operations on the linear space of ordered fuzzy numbers. The set of feasible trapezoidal ordered numbers is limited by the combination of the following conditions: invariance of energy measure, invariance of entropy measure, and invariance of information support. Evaluating the influence of individual limits combinations on the utility of given approximations, two combinations of those restraints, recommended for use, were chosen. It was also indicated that one of the recommended approximation problems can be used only for ordered fuzzy numbers characterized by a low level of entropy. The obtained results are currently used in such multi-criterial decision making models as financial portfolio management, evaluation of negotiations offers, the fuzzy TOPSIS model, and the fuzzy SAW model. [ABSTRACT FROM AUTHOR]