Question

Yesterday you were unexpectedly given a free ticket to a Dave Matthews concert scheduled for April 1. The market price of this ticket is $75, but the most you could sell it for is only $50. Today you discover that Ani DiFranco will be giving a concert that same evening. Tickets for the Ani DiFranco con-cert are still available at $75. Had you known before receiving your Dave Mat-thews ticket yesterday that Ani DiFranco would be coming; you definitely would have bought a ticket to see her, not Dave Matthews. True or false: From what we are told of your preferences, it follows that if you are a rational utility maximizer, you should attend the Ani DiFranco concert. Explain.



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  • CreatedDecember 12, 2014
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