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Mr. Gregory White
Mr. Gregory White, Master's Degree
Category: Math Homework
Satisfied Customers: 92
Experience:  M.A., M.S. Education / Educational Administration
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The attachment is taken from a Study Guide on Mathematical

Customer Question

Hello,The attachment is taken from a Study Guide on Mathematical Economics (chapter on Dynamic Programming). It is part of an explanation of how Euler's equation is derived. The part I don't quite follow is how they get from equation (7.4) to (7.6), i.e. differentiating the Bellman equation with respect to k(t) using the envelope method. I understand both the Bellman equations and the envelope method (somewhat) of differentiating a maximum value function. I think I just need someone to show me a few more steps, as the SG explanation given is very tearse.
Submitted: 5 months ago.
Category: Math Homework
Expert:  Mr. Gregory White replied 5 months ago.

Hi, I'm Greg. Welcome to JustAnswer. I'm reviewing your question now, and will post back with your reply ASAP.

Expert:  Mr. Gregory White replied 5 months ago.

Hello, my name is Greg.

I see this might be time sensitive.

Do you still need this answered?

Customer: replied 4 months ago.
Hi Greg,Sorry for the late reply. The question is not time sensitive. Please take as long as you need.