m] [right arrow] R and satisfying the following Bellman equation
We proceed by deriving the Bellman equation
for J analogous to the Bellman equation
for V we derived earlier.
Defining the value function V(m,n) in the obvious way, the Bellman equation
The Bellman equation
associated to the problem defined in Eq.
When the exponential decay, Poisson event and information cost are jointly considered, the Bellman equation
The somewhat unusual Bellman equation
for the dual problem can be written
David Romer, an economist at the University of California at Berkeley, used it while looking at the first quarters of some 700 NFL games and has written a paper, "It's Fourth Down and What Does the Bellman Equation
This section presents the Taylor series expansion of the numerical solutions of the Bellman equation
for the borrowed reserves function.
From this, the Bellman equation
(equation (7)) is derived which determines the bank's lending and discount-borrowing behavior.
m] [right arrow] Rand satisfying the Bellman equation
We will refer to this condition as the Bellman equation
for the value function V.
A Bellman equation
instructs the decisionmaker to vary the policy instrument in order to generate information about unknown parameters and model probabilities.