Homework Statement
Derive the Euler Equation of the dynamic programming problem:
\[max_{\{ z_t \}^\infty_{t=0}}
\sum_{t=0}^{\infty} \delta^t f(x_t, y_t, z_t)
\]
subject to:
x_{t+1} = g_1(x_t, y_t, z_t),
\
y_{t+1} = g_2(x_t, y_t, z_t),
\
x_0 = x^0,
y_0 = y^0
and where \delta <1...