Homework SourseDenise and Christy have the same preferences and incomes Jus
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- Denise and Christy have the same preferences and incomes. Just as Denise arrived at the theater to see a play, she discovered that she had lost the $20 ticket she had purchased earlier. Christyalso just arrived at the theater planning to buy a ticket to see the same play when she discovered that she had lost a $20 bill from her wallet. If both Denise and Christy are rational and both have enough money to pay for a ticket, is one of them more likely than the other to go ahead and see the play anyway? Briefly explain.
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- Denise and Christy have the same preferences and incomes. Just as Denise arrived at the theater to see a play, she discovered that she had lost the $20 ticket she had purchased earlier. Christyalso just arrived at the theater planning to buy a ticket to see the same play when she discovered that she had lost a $20 bill from her wallet. If both Denise and Christy are rational and both have enough money to pay for a ticket, is one of them more likely than the other to go ahead and see the play anyway? Briefly explain.
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- Denise and Christy have the same preferences and incomes. Just as Denise arrived at the theater to see a play, she discovered that she had lost the $20 ticket she had purchased earlier. Christyalso just arrived at the theater planning to buy a ticket to see the same play when she discovered that she had lost a $20 bill from her wallet. If both Denise and Christy are rational and both have enough money to pay for a ticket, is one of them more likely than the other to go ahead and see the play anyway? Briefly explain.
- Denise and Christy have the same preferences and incomes. Just as Denise arrived at the theater to see a play, she discovered that she had lost the $20 ticket she had purchased earlier. Christyalso just arrived at the theater planning to buy a ticket to see the same play when she discovered that she had lost a $20 bill from her wallet. If both Denise and Christy are rational and both have enough money to pay for a ticket, is one of them more likely than the other to go ahead and see the play anyway? Briefly explain.
- Denise and Christy have the same preferences and incomes. Just as Denise arrived at the theater to see a play, she discovered that she had lost the $20 ticket she had purchased earlier. Christyalso just arrived at the theater planning to buy a ticket to see the same play when she discovered that she had lost a $20 bill from her wallet. If both Denise and Christy are rational and both have enough money to pay for a ticket, is one of them more likely than the other to go ahead and see the play anyway? Briefly explain.
Solution
In my opinion, Denise is more likely to go ahead and see the play.
Denise had already purchased the ticket before she arrived, which reveals she was committed to seeing the play at said date and time. But Christy came to buy the ticket on-spot, which involved a certain level of uncertainty (on availability of on-spot ticket. If ticket wasn\'t available, she wouldn\'t be able to see the play and she knew it when she arrived).
Therefore, speaking from viewpoint of consumer psychology, it seems more likely that Denise will purchase another ticket and see the play.
