One of the few I can pinpoint without clear drawbacks is the discovery by Fibonacci of Pisa in the late 12th century of the use of discounting to establish present values for different cash flows.

• 我能想到的为数不多没有明显缺憾的创新之一，是意大利比萨的斐波纳契(Fibonacci)12世纪末的一项发现，他用贴现来显示不同现金流的现值。