Answer:
This ability to detect one's name being spoken in this situation is an example of the cocktail party effect.
Step-by-step explanation:
The cocktail party effect consists on the brain's capacity to center an individual's auditory attention (resulting from the brain's selective attention) on a specific stimulus and eliminating a variety of other stimuli, like the case of this man's ability to recognize his name in a party with lots of music and conversations taking place at the same time.