Yesterday you were unexpectedly given a free ticket to a Dave Matthews concert scheduled for tomorrow night.
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Question:
Yesterday you were unexpectedly given a free ticket to a Dave Matthews concert scheduled for tomorrow night. You've known about this concert for weeks, and the market price of this ticket is $75, but you also know that the most you can sell the free ticketfor is $50. Today you discover that Ani DiFranco will be giving a concert tomorrow evening as well. Tickets for the Ani DiFranco concert are available for $75. Had you known before receiving your Dave Matthews ticket yesterday that Ani DiFranco would be coming, you definitely would have bought a ticket to see her.
- How much do you value the Matthews ticket?
- Howmuch do you value the DiFranco ticket?
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