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Suppose you have seasonal tickets to the college football season. There are six performances (home games) per year. The cost of the season pass for
Suppose you have seasonal tickets to the college football season. There are six performances (home games) per year. The cost of the season pass for the tickets that are nonrefundable and nonexchangeable is $300. You have attended and enjoyed the first five games. Your phone is ringing just as you are leaving your house to go to the 6th game. A friend is excited to tell you that she received two free tickets to hear the current Nobel prize winner in economics public talk at your university auditorium. You think you would receive more utility from this economics presentation than the football game, but it is too late to sell your ticket online at this point. What should you do in this case if you are a rational decision-maker? Explain your answer using econ-based arguments
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