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beta-delta models

Posted by redM on 19 Mar 2013 at 18:02 GMT

"Note also that the CS model encompasses the continuous-time version of the beta-delta model (Ebert & Prelec, 2007, Proof in Appendix)"

This cannot be true since the CS model is continuous and the continuous-time version of the beta-delta is not (in t=0, unless beta=0).
What encompasses this model is a less strigent axiomatic description, when temporal invariance is only require for strictly positive times.

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