Question: Howard Policy-Improvement Algorithm Consider the Brock-Mirman problem: to maximize Eo B'Inc., 1-0 subject to c,+k+1 Aka,, ko given, A> 0, 1>a> 0, where (0,) is

Howard Policy-Improvement Algorithm Consider the Brock-Mirman problem: to maximize Eo B'Inc., 1-0 subject to c,+k+1 Aka,, ko given, A> 0, 1>a> 0, where (0,) is an i.i.d. sequence with In 0, distributed according to a normal distribution with mean zero and variance .

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