Top Posters
Since Sunday
t
7
m
6
k
6
F
5
j
5
t
5
j
5
G
5
f
5
a
5
d
5
c
5
Home Q & A Board Other Fields Homework Help Business Economics
New Topic  
Tidy Tidy
wrote...
Go to Answer
Posts: 4852
Rep: 38 0
8 years ago
Suppose Adam Einberg pays $100 for a ticket to a new Broadway play and $100 was the maximum price he was willing to pay. On the day of the performance of the play Adam refuses to sell the ticket for $150. How would behavioral economists explain Adam's refusal to sell his ticket?
A) Adam's tastes had changed from the time he bought the ticket to the time of the performance of the play.
B) When Adam bought the ticket he was being unrealistic about his future behavior.
C) The endowment effect explains Adam's actions. People like Adam seem to value things that they have more than the things they do not have.
D) Adam's income probably increased between the time he bought the ticket and the day of the play's performance.
Textbook 
Essentials of Economics

Essentials of Economics


Edition: 4th
Authors:
Read 324 times
2 Replies
Repeat after me: 'Calm down. Things are gonna be fine. Things are gonna be all great. Just relax.' Wink Face
Replies
Answer verified by a subject expert
Chimelo46Chimelo46
wrote...
#1
Top Poster
Posts: 5641
Rep: 449 0
8 years ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
1

Related Topics

wrote...
#2
8 years ago
It was nothing, thanks for updating us.
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  970 People Browsing
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Live Chat
Related Images
  
 986
  
 212
  
 249
Your Opinion
Which industry do you think artificial intelligence (AI) will impact the most?
Votes: 378
Previous poll results: Which 'study break' activity do you find most distracting?