AJ pays full price to view The Avengers at the multiplex. After three minutes of viewing, he

Question:

AJ pays full price to view The Avengers at the multiplex. After three minutes of viewing, he realizes that the movie is worse than anything he could be watching on TV at home. Yet, he stays to the end, "... because I paid $9 for the ticket." What behavioral bias has AJ fallen victim to? Explain.
Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Microeconomics

ISBN: 978-1464187025

2nd edition

Authors: Austan Goolsbee, Steven Levitt, Chad Syverson

Question Posted: