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1 parent dfbad23 commit 92e04deCopy full SHA for 92e04de
lectures/pv.md
@@ -322,10 +322,10 @@ $p_t$:
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* a **bubble component** $\delta^{T+1-t} p_{T+1}^*$
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The fundamental component is pinned down by the discount factor $\delta$ and the
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-"fundaments" of the asset (in this case, the dividends).
+"fundamentals" of the asset (in this case, the dividends).
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The bubble component is the part of the price that is not pinned down by
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-fundaments.
+fundamentals.
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It is sometimes convenient to rewrite the bubble component as
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