Question

Assume that Ken is risk neutral and his objective is to maximize the present value of...

Assume that Ken is risk neutral and his objective is to maximize the present value of his job

earnings. Suppose he has received two job offers with the same starting salary. There is on-the job

training for both jobs. For job A, it is general training. For job B, it is specific training. If

Ken asks you for professional advice, how would you help him decide which job offer to take?

Explain and Discuss. Make reasonable assumptions if necessary. Does your advice depend on

whether the two jobs are in the same industry? Explain and discuss.

Business   Economics   
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Answer #1

Answer)Ken 's aim is to maximize value of his present job 's earnings which means he has to progress quickly in his current job, in order to achieve that he would need to have a specific role and for that he requires specific training which is available in job b,we don't know the industry, unless Ken had interest in a particular industry,this detail would have mattered otherwise it would have been futile for our purpose, so my advice for Ken would be to go for job b as he will have narrow but more focused path to progress in job b and in process to maximize his earnings.

Answer is complete. Thank you!

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