Earlier looked at Simple Beam Theory in which one considers a beam in the x-z plane with the beam along the x-direction and the load in the z-direction Figure 14.1 Representation of Simple Beam Now look at a more general case Loading can be in any direction
Discount model is in terms of conditional moments The first order condition is,u'( BE, [u'(c )x 1] The expectation is conditional expectation on investor's time t information; The basic pricing equation is P, =E, (m +1X1+)