f. Suppose that the worker gets unlucky and is caught shirking the first time and that he

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f. Suppose that the worker gets unlucky and is caught shirking the first time and that he therefore will not be employed at a wage other than the market wage w* starting on day 2. In that case, what is the present discounted value of the game that begins on day 2? _Note: The infinite sum d 1 d2 1 d3 1 … is equal to d/11 2 d2.+

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