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

Quizplus · Accepted Answer

The implicit cost of ownership refers to the economic cost of owning an asset, which includes the opportunity cost of using that asset for one purpose instead of another. In this case, Christopher's decision to use the tickets even though he wouldn't pay $300 for them himself is likely due to his recognition that he would incur an implicit cost if he sold them to his coworker, as he would be forfeiting the opportunity to use them to attend the game.

Christopher Just Won Tickets to See an NFL Football Game