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BPP Field Exam 2007 Answers (view source)
Revision as of 12:49, 12 April 2011
, 12:49, 12 April 2011→C2 (a)
===C.2: Contracting with and without commitment===
====C2 (a)====
The solution is given by
<math>\max_{t_{H},t_{L},q_{H},q_{L}}[\sum_{i=0}^{\infty}[\delta^{i}(0.5(u(q_{H})-t_{H})+0.5(u(q_{L})-t_{L}))]]</math>
====C2 (b)====
====C2 (c)====
====C2 (d)====
====C2 (e)====
