Value functions and transitions The value of unemployment can now be defined by U①,G,X,提短RU,X,VA,尽 ,G;X形A, If you get an offer2x.(①…叫(r米判 If you do not get offer 0D,Do°,GX,1A, Offer arrival rate when unemployed• The value of unemployment can now be defined by Value functions and transitions U E,G,X,w1,RUE,X,w1,, UE,XEG ❖,❖,  0 ❖,   ❖max U E,G ❖,X,w1,❖ W E,G ❖,X,0,  0 ❖ ,   ❖ 1 UE,XEG ❖,❖U E,G ❖,X,w1,❖ If you get an offer If you do not get offer Offer arrival rate when unemployed