FIGURE 3.

The effectiveness of continuous regimes. The upper panel presents the median of X_q, ${\widehat{\theta }}_{q2}$, at 1 and 2 years; the bottom panel displays the difference in ${\widehat{\theta }}_{q2}$ at 1 and 2 years between regimes q = ∞ and q ∈ {0, 200, 210,…,500}. The triangles represent ${\widehat{\theta }}_{q2}$ corresponding to regime q = 0 (upper panel), and the difference in ${\widehat{\theta }}_{q2}$ between regimes q = ∞ and q = 0 (bottom panel). Similarly, the diamonds correspond to ${\widehat{\theta }}_{q2}$ under regime q = ∞. The filled symbols are the mean values, and the empty symbols are the upper and lower bounds of the 95% confidence intervals