Suppose one group of people is asked to imagine that, having previously purchased a ticket for $10, they arrive at the theater to discover they have lost their ticket, and a second group of people is asked to imagine that they arrive just before the performance to buy a ticket and find they have lost $10 from their wallets. According to the rational choice model, which group should be more likely to say they would still attend the performance?
A)The lost ticket group
B)The lost $10 group
C)Both groups should be equally likely to say they would attend.
D)Neither group should be interested in attending the performance.

Question

Quizplus · Accepted Answer

For both groups, the cost of attending the performance would be $10, so the rational choice model predicts that both groups should be equally likely to say they would still attend.

Suppose One Group of People Is Asked to Imagine That