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Exponential discounting. In economics exponential discounting is a specific form of the discount function, used in the analysis of choice over time (with or without uncertainty ). Formally, exponential discounting occurs when total utility is given by. where ct is consumption at time t, is the exponential discount factor, and u is the ...
Time value of money. The present value of $1,000, 100 years into the future. Curves represent constant discount rates of 2%, 3%, 5%, and 7%. The time value of money is the widely accepted conjecture that there is greater benefit to receiving a sum of money now rather than an identical sum later. It may be seen as an implication of the later ...
Let be the state at time .For a decision that begins at time 0, we take as given the initial state .At any time, the set of possible actions depends on the current state; we express this as (), where a particular action represents particular values for one or more control variables, and () is the set of actions available to be taken at state .
A modern scientific calculator with an LCD. An electronic calculator is typically a portable electronic device used to perform calculations, ranging from basic arithmetic to complex mathematics . The first solid-state electronic calculator was created in the early 1960s. Pocket-sized devices became available in the 1970s, especially after the ...
Discount function. A discount function is used in economic models to describe the weights placed on rewards received at different points in time. For example, if time is discrete and utility is time-separable, with the discount function having a negative first derivative and with (or in continuous time) defined as consumption at time t, total ...
t. e. In finance, a currency swap (more typically termed a cross-currency swap, XCS) is an interest rate derivative (IRD). In particular it is a linear IRD, and one of the most liquid benchmark products spanning multiple currencies simultaneously. It has pricing associations with interest rate swaps (IRSs), foreign exchange (FX) rates, and FX ...
Glossary of mathematical symbols. A mathematical symbol is a figure or a combination of figures that is used to represent a mathematical object, an action on mathematical objects, a relation between mathematical objects, or for structuring the other symbols that occur in a formula. As formulas are entirely constituted with symbols of various ...
Discounts and allowances are reductions to a basic price of goods or services. They can occur anywhere in the distribution channel, modifying either the manufacturer's list price (determined by the manufacturer and often printed on the package), the retail price (set by the retailer and often attached to the product with a sticker), or the list ...