You have a season ticket which entitles you to see four basketball games, on four consecutive days: t = 0; 1; 2; 3 Attending the game at time t will give you u(t) units of utility (utiles) at time t: Specifically, u(0) = 2; u(1) = 6; u(2) = 10; u(3) = 30. (The later games give more utiles because they are more exciting). You are a hyperbolic discounter with lowercase delta = beta= 1/2. Your employer says you need to work on one (and only one) of these four days; you will have to miss the game on that day (and get 0 utiles on that day). Your employer lets you decide which day to work (and hence, which game to miss). For parts (a) and (b), suppose you cannot make any commitments about future behavior; each day, you must decide whether or not to work on that day, if you have not already worked on a previous day. Some notes and things to consider: Thus the first game takes place today, at t = 0: The second game is tomorrow, at t = 1; etc. The ticket cannot be refunded or transferred to someone else. That is, at time t your only decision is whether or not to work at time t . Of course, if you don't work before t = 3, then you have no choice but to work at t = 3 (and hence miss the final game) The question: If you are a naive hyperbolic discounter, when will you work? (I.e., will you work at t=0,1,2 or 3?) Explain