Author Question: Alan Krueger conducted a survey of fans at the 2001 Super Bowl who purchased tickets to the game for ... (Read 120 times)

pragya sharda · **on:** Oct 7, 2019

Alan Krueger conducted a survey of fans at the 2001 Super Bowl who purchased tickets to the game for $325 or $400. Krueger found that (a) 94 percent of those surveyed would not have paid $3,000 for their tickets, and (b) 92 percent of those surveyed would not have sold their tickets for $3,000. These results are an example of

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consumers placing a high value on a product because it makes them appear to be fashionable.

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the tendency for consumers to account for monetary costs but to ignore sunk costs.

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the tendency of people to be unwilling to sell a good they already own even if they are offered a price that is greater than the price they would be willing to pay if they did not already own it.

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the law of demand.

kmb352 · **Reply #1 on:** Oct 7, 2019

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