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Right now the package only solves finite horizon problems. Each training loop has a well-defined length T and the policy function depends on t. Consider a model with no discounting where in each period, with probability $1-\beta$ the agent dies and utility is 0 from then on. Then in expectation, that should be as if the agent is discounting time at rate $\beta$. Simulate until death and do not allow the policy function to depend on t.
The text was updated successfully, but these errors were encountered:
Right now the package only solves finite horizon problems. Each training loop has a well-defined length$1-\beta$ the agent dies and utility is 0 from then on. Then in expectation, that should be as if the agent is discounting time at rate $\beta$ . Simulate until death and do not allow the policy function to depend on
T
and the policy function depends ont
. Consider a model with no discounting where in each period, with probabilityt
.The text was updated successfully, but these errors were encountered: