From 594c042f5091fb11320633ba504eb9adc994db0b Mon Sep 17 00:00:00 2001 From: Smit-create Date: Thu, 8 Sep 2022 20:36:59 +0530 Subject: [PATCH] A minor typo fix --- lectures/markov_asset.md | 14 +++++++------- 1 file changed, 7 insertions(+), 7 deletions(-) diff --git a/lectures/markov_asset.md b/lectures/markov_asset.md index aaf9ce34b..6eb955d70 100644 --- a/lectures/markov_asset.md +++ b/lectures/markov_asset.md @@ -289,12 +289,12 @@ where 1. $\{X_t\}$ is a finite Markov chain with state space $S$ and transition probabilities - + $$ P(x, y) := \mathbb P \{ X_{t+1} = y \,|\, X_t = x \} \qquad (x, y \in S) $$ - + 1. $g$ is a given function on $S$ taking nonnegative values You can think of @@ -455,7 +455,7 @@ Lucas considered an abstract pure exchange economy with these features: * a single *tree* that each period yields *fruit* that equals the total amount of consumption available to the economy * a competitive market in *shares* in the tree that entitles their owners to corresponding shares of the *dividend* stream, i.e., the *fruit* stream, yielded by the tree -* a representative consumer who in a competitive equilibrium +* a representative consumer who in a competitive equilibrium * consumes the economy's entire endowment each period * owns 100 percent of the shares in the tree @@ -627,7 +627,7 @@ for γ in γs: v = tree_price(ap) ax.plot(states, v, lw=2, alpha=0.6, label=rf"$\gamma = {γ}$") -ax.set_title('Price-divdend ratio as a function of the state') +ax.set_title('Price-dividend ratio as a function of the state') ax.set_ylabel("price-dividend ratio") ax.set_xlabel("state") ax.legend(loc='upper right') @@ -964,7 +964,7 @@ Do the same for ```{exercise} :label: ma_ex3 -Let's consider finite horizon call options, which are more common than +Let's consider finite horizon call options, which are more common than infinite horizon ones. Finite horizon options obey functional equations closely related to {eq}`FEoption0`. @@ -1127,8 +1127,8 @@ plt.show() Not surprisingly, options with larger $k$ are worth more. -This is because an owner has a longer horizon over which +This is because an owner has a longer horizon over which the option can be exercised. ```{solution-end} -``` \ No newline at end of file +```