Suppose You Pre-Ordered a Non-Refundable Movie Ticket to Avengers: Infinity

question 226

Multiple Choice

Suppose you pre-ordered a non-refundable movie ticket to Avengers: Infinity War. On the day of the movie you decide that you would rather not go to the movie. According to economists, what is the rational thing to do?

• A) Since you do not want to go to the movie and the cost of the movie ticket is a sunk cost, how much you paid for the ticket should not influence your decision.
• B) You should not waste resources. Since you have paid for the ticket you should watch the movie.
• C) Your should go to the movie to minimize your losses.
• D) You should go to the movie to maximize your utility.

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Definitions:

Securely Attached

A classification in attachment theory indicating an individual who has a positive view of self and others, leading to healthy, adaptive social and interpersonal relationships.

Low Anxiety

A state characterized by minimal feelings of tension, worry, or nervousness, often associated with a sense of calm or tranquility.

Low Avoidance

A characteristic of individuals who do not actively evade or try to prevent uncomfortable or negative situations.

Attachment Style

Patterns of behavior in relationships that are formed in early childhood and affect intimate relationships throughout life.