I always have problems with the use of colons when writing math papers. The following examples come from a published paper in a prestigious American journal.
Here is an example where the colon is not used:
... can be written as
"The equation is inserted here"
where...
And one where the colon is used:
... by accumulating the effects of earlier appreciation:
"The equation is inserted here"
A last one:
... is a function of the amount of search (...):
"The equation is inserted here"
where...
I am unable to draw a definitive conclusion from these examples. Is there any specific rule that applies?