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lines changed Original file line number Diff line number Diff line change @@ -44,7 +44,7 @@ $$ (eq:Euler1)
4444This is a "cost equals benefits" formula.
4545
4646It says that the cost of buying the asset today equals the reward for holding it
47- for one period (which is the dividend $d_t$)and then selling it, at $t+1$.
47+ for one period (which is the dividend $d_t$) and then selling it, at $t+1$.
4848
4949The future value $p_{t+1}$ is discounted using $\delta$ to shift it to a present value, so it is comparable with $d_t$ and $p_t$.
5050
365365\end{bmatrix}
366366$$ (eq:pieq2)
367367
368- Evidently, if $p_{T+1}^* = 0$, a price vector $\vec p$ of with all entries zero
368+ Evidently, if $p_{T+1}^* = 0$, a price vector $p$ of with all entries zero
369369solves this equation and the only the **fundamental** component of our pricing
370370formula {eq}`eq:ptpveq` is present.
371371
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