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3" . Individual Problems 196 You need to hire some new employees to staff your startup venture. You knowI that potential employees are distributed throughout the population as follows, but you can't distinguish among them: Employee Value Probability $20,000 0.125 $20,000 0.125 $33,000 0.125 $92,000 0.125 $100,000 0.125 $115,000 0.125 $124,000 0.125 $133,000 0.125 The expected value of hiring one employee is . Suppose you set the salary of the posion equal to the expected value of an employee. Assume that employees will not work for a salary below their employee value. The expected value of an employee who would apply for the position, at this salary, is . Given this adverse selection, your most reasonable salary oFfer [that ensures you do not lose money) is V . Go : . ' " \" I o (Cohtinil'eseiilhtzii say ng