diff --git a/lectures/harrison_kreps.md b/lectures/harrison_kreps.md index 163d3ead7..f107b6444 100644 --- a/lectures/harrison_kreps.md +++ b/lectures/harrison_kreps.md @@ -233,57 +233,14 @@ It records implications of Harrison and Kreps's specifications of $P_a, P_b, \be ```{raw} html
``` - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -|$|s_t|$|0|1| +|$ s_t $|0|1| |:---------------------:|:----:|:----:| -|$|p_a|$|1.33|1.22| -|$|p_b|$|1.45|1.91| -|$|p_o|$|1.85|2.08| -|$|p_p|$|1|1| -|$|\hat{p}_a|$|1.85|1.69| -|$|\hat{p}_b|$|1.69|2.08| +|$ p_a $|1.33|1.22| +|$ p_b $|1.45|1.91| +|$ p_o $|1.85|2.08| +|$ p_p $|1|1| +|$ \hat{p}_a $|1.85|1.69| +|$ \hat{p}_b $|1.69|2.08| Here @@ -571,55 +528,17 @@ He emphasizes how limiting short sales and limiting leverage have opposite effec Recreate the summary table using the functions we have built above. - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -|$|s_t|$|0|1| +```{raw} html +
+``` +|$s_t$|0|1| |:---------------------:|:----:|:----:| -|$|p_a|$|1.33|1.22| -|$|p_b|$|1.45|1.91| -|$|p_o|$|1.85|2.08| -|$|p_p|$|1|1| -|$|\hat{p}_a|$|1.85|1.69| -|$|\hat{p}_b|$|1.69|2.08| +|$p_a$|1.33|1.22| +|$p_b$|1.45|1.91| +|$p_o$|1.85|2.08| +|$p_p$|1|1| +|$\hat{p}_a$|1.85|1.69| +|$\hat{p}_b$|1.69|2.08| You will first need to define the transition matrices and dividend payoff vector.