Christopher just won tickets to see an NFL football game.His coworker offers to pay him $300 for them,but Christopher decides to use them,even though he would never pay $300 for them himself.Christopher's willingness to consume $300 worth of tickets that he doesn't value at $300 is attributed to:

Question

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Christopher's willingness to consume $300 worth of tickets that he doesn't value at $300 is attributed to the implicit cost of ownership. The implicit cost of ownership involves the costs associated with owning and consuming goods, such as the time and effort involved in selling the tickets or the emotional attachment to owning the tickets. In this case, even though Christopher would never pay $300 for the tickets himself, he values the experience of attending the game higher than the money he would receive from selling them.

Christopher Just Won Tickets to See an NFL Football Game