deletions | additions       diff --git a/Calculations_The_value_function_is__.md b/Calculations_The_value_function_is__.md  index 9bc47d3..fca4522 100644  --- a/Calculations_The_value_function_is__.md  +++ b/Calculations_The_value_function_is__.md 
...
The value function is easily obtained by solving:  \[\frac{dV}{V}=\pi(p)\frac{dp}{p}.\]   This leads to:  \[V(p)=p^{-\pi}\exp(2\pi (p-1)),\, 1/2 \lt  p \lt 1,\] \[V(p)=p^{\pi},\, p \geq 1.\]  The trading function is obtained by differentiation as usual:  \[n(p)=\pi (-1+2p)p^{-\pi-1}\exp(2\pi(p-1)),\, p \lt 1,\]