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In the US, tickets to ball games are sold sometimes in sealed bid auctions. A study from 2001 found that willingness to pay for a

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In the US, tickets to ball games are sold sometimes in sealed bid auctions. A study from 2001 found that willingness to pay for a basketball ticket sold in a sealed bid auction is up to 100% higher when credit card use is required compared with the situation when cash is required. What behavioural principle can explain this observation? Explain and justify your

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