RDP 9307: Explaining Forward Discount Bias: Is it Anchoring?
Equation (11′)
Δ
s
t
+
1
=
η
f
d
t
+
(
1
+
θ
η
/
λ
)
v
t
+
1
+
χ
[
(
ρ
−
1
)
(
s
¯
t
−
p
¯
t
)
+
e
t
+
1
]
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