For short run decisions, the effect of the discounting term e-σt is not important.
Specifically, devaluation of delayed rewards (two apples) over 7 days is greater for example 2 than for example 1 in Appendix I. Because, in most discounting literature, the term "a hyperbolic discount ing) rate" refers to a discount rate at delay D = 0 (i.e., - dV D /dD)/V| D = 0 = k d ), we followed this terminology throughout the manuscript.
ALISON BEARD: So first, we don't think that she should discount the long term cost of staying in this toxic environment.
This is when you may begin to discount short-term losses more heavily in favor of longer-term recurring revenue.
Long Run, last year's King George hero, has been beaten a total of 62 lengths in his two starts this term and is widely discounted.
This was only his second one this term, but I actually discount the other one, a dissenting opinion in a case with federalism overtones, Douglas v. Independent Living Center.
Unsurprisingly, given his age, Mr Napolitano had discounted a second term.
Note that, in a typical stochastic game setting and -learning, the updating rule in (5) should consider the reward of the future and add a discounted term of the future reward to the right hand side of (5).
So it should balance its budget in present discounted value terms, not year by year.
Now, you could argue that we should discount short-term costs.
Our findings have important implications for the evaluation of this and other policy reforms: ignoring parent-to-child spillovers understates the long-run cost savings of the Dutch reform by between 21 and 40% in present discounted value terms.
