Dave part 1: Dave's local movie theater is showing one movie in each of the next four weeks. The first movie provides instantaneous utility (utility at the time it is watched) of 10. The second movie provides instantaneous utility of 13. The third provides instantaneous utility of 16. And the fourth provides instantaneous utility of 19. Dave has a long-run discount factor of S= 1 and a present-bias discount factor of B = 0.75. Dave can only afford to go to three of the movies so he has to decide which one to skip. If Dave is naive, which one will he skip? Dave part 2: Dave's local movie theater is showing one movie in each of the next four weeks. The first movie provides instantaneous utility (utility at the time it is watched) of 10. The second movie provides instantaneous utility of 13. The third provides instantaneous utility of 16. And the fourth provides instantaneous utility of 19. Dave has a long-run discount factor of S= 1 and a present-bias discount factor of B = 0.75. Dave can only afford to go to three of the movies so he has to decide which one to skip. If Dave is sophisticated, which one will he skip? Dave part 1: Dave's local movie theater is showing one movie in each of the next four weeks. The first movie provides instantaneous utility (utility at the time it is watched) of 10. The second movie provides instantaneous utility of 13. The third provides instantaneous utility of 16. And the fourth provides instantaneous utility of 19. Dave has a long-run discount factor of S= 1 and a present-bias discount factor of B = 0.75. Dave can only afford to go to three of the movies so he has to decide which one to skip. If Dave is naive, which one will he skip? Dave part 2: Dave's local movie theater is showing one movie in each of the next four weeks. The first movie provides instantaneous utility (utility at the time it is watched) of 10. The second movie provides instantaneous utility of 13. The third provides instantaneous utility of 16. And the fourth provides instantaneous utility of 19. Dave has a long-run discount factor of S= 1 and a present-bias discount factor of B = 0.75. Dave can only afford to go to three of the movies so he has to decide which one to skip. If Dave is sophisticated, which one will he skip