Is there any way to re-write the following
$$p_{\hat y} \simeq\frac{1}{N-\frac{1}{T}U_1(x)+\frac{1}{2T^2}U_2(x)}$$
such that
$$p_{\hat y}\propto \left(U_1-\frac{U_2}{2T}\right)/T $$
$N$ is a positive integer number, $U_1$ and $U_2$ are functions of $x$ but they are always positive, $T$ is a parameter ranging in $[0,+\infty]$.
I found this on a paper, but I cannot understand why the signs of $U_1$ and $U_2$ change from minus to plus and vice-versa. Maybe there is some fractional identity that I forgot about. Thanks.
You can write your expression as
$$ p = (N - A)^{-1} $$
When $N$ is large this is
\begin{align} p &= N^{-1} (1- A/N)^{-1} \\ &= N^{-1} (1+ A/N +O(1/N^2)) \\ &=1/N + A/N^2 +O(1/N^3)) \end{align}
If you omit the first term, meaning that you are not interested in an offset, the remaining one is indeed proportional to $A$.