RDP 8801: Time-Consistent Policy: A Survey of the Issues Equation (a9)

v t = Max { m t } { ( q t q 0 ) 2 + μπ t 2 }+ δv t+1 MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGcbaGaaeODamaaBa aaleaacaqG0baabeaakiaab2dadaWfqaqaaiaab2eacaqGHbGaaeiE aaWcbaWaaiWaaeaacaqGTbWaaSbaaWqaaiaabshaaeqaaaWccaGL7b GaayzFaaaabeaakiaab2cadaGadaqaamaabmaabaGaaeyCamaaBaaa leaacaqG0baabeaakiaab2cacaaMc8UaaeyCamaaBaaaleaacaqGWa aabeaaaOGaayjkaiaawMcaamaaCaaaleqabaGaaeOmaaaakiaabUca caaMc8UaaeiVdiaabc8adaWgaaWcbaGaaeiDaaqabaGcdaahaaWcbe qaaiaabkdaaaaakiaawUhacaGL9baacaaMc8Uaae4kaiaaykW7caqG 0oGaaeODamaaBaaaleaacaqG0bGaae4kaiaabgdaaeqaaaaa@5B03@