RDP 2007-12: Dynamic Pricing and Imperfect Common Knowledge
Equation (3)
p
t
∗
(
j
)
=
(
1
−
β
θ
)
E
t
(
j
)
[
∑
i
=
0
∞
(
β
θ
)
i
(
p
t
+
i
+
m
c
t
+
i
(
j
)
)
]
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