Problem on rational decision maker

Reference no: EM13517860

Yesterday you were unexpectedly given a free ticket to a Britney Spears concert scheduled for November 1. The market price for the ticket is $75, but the most you could sell it for is only $50. Today you discover that Pink Floyd will be having a reunion concert on the same evening. Tickets for the Floyd concert are still available for $75. Had you known before you received your Britney ticket yesterday that Pink Floyd would be coming, you definitely would have bought a ticket to see them, not her.

Given the information above, it follows that if you are a rational decision maker, you should attend the Floyd concert. Explain.

Reference no: EM13517860

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