Peterson, G. D. (contributor); Carpenter, S. R. (contributor) - 2002 - [Elektronische Ressource]
managers have two competing models of lake response, expected utility is
<11> . EU
t
[]= p
1,t
EU
1, t
[]
+ p
2,t
EU
2,t
[]
10 … is the
summation of future expected utilities discounted by the discount rate 1-δ.
<12> . EV
t
[]= δ
s
EU
s
[]
s …
<A.1> V = δ
t
EU
t
[]
t
∑
where the summation is over infinite time t, δ is the annual discount factor, and U
t
is …