=+ a. Since you do not know which type of worker you will get, you think about

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a. Since you do not know which type of worker you will get, you think about what the expected value of your revenue will be if you hire one of the two. What is that expected value?

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Economics

ISBN: 9781319066604

5th Edition

Authors: Robin Krugman, Paul Wells

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Question Posted: Oct 07, 2024 07:02 AM

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=+ a. Since you do not know which type of worker you will get, you think about what the expected value of your revenue will be if you hire one of the two. What is that expected value?
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=+you do not know who is fast and who is slow. So this is a situation of adverse selection.
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=+ a. Since you do not know which type of worker you will get, you think about

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Economics

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