RDP 2016-07: The Efficiency of Central Clearing: A Segmented Markets Approach
Equation (3)
max
{
c
m
,
t
,
s
m
,
t
}
t
=
0
∞
𝔼
0
[
∑
t
=
0
∞
β
t
u
(
c
m
,
t
)
]
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