a. Consider first a college student who receives credit card offers with teaser rates that charge low

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a. Consider first a college student who receives credit card offers with teaser rates that charge low interest until the student graduates. As a high school senior, our student decides on how much consumption he will undertake once he gets to college (knowing that he will have access to such credit cards). Assuming that d is the same for present-biased students as it is for students who do not have present-bias, will the plans such students make for consumption while in college differ?

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