Thread: Mathematical Induction

Hello everybody!

I'm an economics student stuck on this dynamic optimization problem, where the second part of the problem includes "mathematical induction". I think I have understood the notion of it (the two cases that I need to test), but I have no idea how to apply it here. Anyways, any help/pointers are very welcome!

//Eric

The problem: https://studentweb2.hhs.se/courseWeb.../PS6(2012).pdf

I think I have found the correct general function (see the attached PDF), but the induction part is beyond me!

I can't see what the problem is, your URL is restricted...

Ah, sorry about that! See attatched file for the problem!

Any help what so ever regarding mathematical induction will be greatly appreciated!