RDP 9307: Explaining Forward Discount Bias: Is it Anchoring?
Equation
W
t
+
n
=
W
t
Π
j
=
t
t
+
n
−
1
[
1
+
x
j
z
j
+
1
+
r
j
+
1
d
]
≈
W
t
[
1
+
Σ
j
=
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n
−
1
{
x
j
z
j
+
1
+
r
j
+
1
d
}
]
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