{
  "schema_version": 1,
  "model_version": "spending-path-20261021-v1",
  "created_at_utc": "2026-10-20T22:24:14Z",
  "evidence_type": "original deterministic synthetic model; no observed prices or customer outcomes",
  "initial_price_usd": "100",
  "monthly_bill_usd": "100",
  "initial_wealth_usd": "2000",
  "returns_pct": {
    "fall_then_rebound": ["-50", "100", "0", "0", "0", "0", "0", "0", "0", "0", "0", "0"],
    "rise_then_fall": ["100", "-50", "0", "0", "0", "0", "0", "0", "0", "0", "0", "0"]
  },
  "initial_cash_reserves_usd": ["0", "100", "200"],
  "cost_models": [
    {"id": "no_costs", "proportional_fee": "0", "fixed_sale_fee_usd": "0"},
    {"id": "one_percent_plus_one_dollar", "proportional_fee": "0.01", "fixed_sale_fee_usd": "1"}
  ],
  "small_case_initial_ltc": "3",
  "small_case_months": 2,
  "depletion_case_initial_ltc": "2.5",
  "depletion_case_months": 3,
  "rules": {
    "timing": "Apply the month's return, then pay that month's bill. Month labels are synthetic indices, not calendar observations.",
    "reserve": "Initial reserve replaces LTC at the initial price, preserving initial total wealth. Use cash first; do not refill it or rebalance.",
    "sale": "Sell only the LTC required to fund the unpaid portion of the current bill, rounded up to 0.00000001 LTC. No borrowing, shorting or leverage.",
    "fees": "On an actual sale only: exact proportional fee on gross proceeds, then one fixed sale fee. These are fictional modeling terms, not provider fees.",
    "cash_credit": "Round net sale proceeds down to whole USD cents. Keep excess credited cash. Record the uncredited fractional-cent remainder separately.",
    "insufficient": "If available LTC cannot fund the bill, sell it only if net cash credit is positive, pay the available amount, record the shortfall, then stop later sales and mark subsequent bills unpaid.",
    "terminal_value": "Remaining LTC times the common final price plus retained credited cash. No assumed final liquidation or fee.",
    "cash_return": "Zero interest and no inflation adjustment.",
    "excluded": "Observed market data; probability forecasts; executable quotes; spread/slippage; minimum trades; withdrawal/network fees; settlement delays; account restrictions; FX; taxes; other income; reserve refills; calendar effects."
  }
}