Question

Mehmet and semra went to a movie but were soon bored with it. semra wanted to leave. mehmet did not want to leave because they had already paid for their tickets, which would be wasted if they left before the movie was over. what psychological factor associated with behavioral economics explains mehmet's behavior? altruism overconfidence a framing bias a sunk cost fallacy

Answer 1

A sunk cost fallacy

Step-by-step explanation:

The sunk cost fallacy states that people tend to continue a behaviour as a result of previously invested resources, even when the continuance of the behaviour brings them no benefits, or even harms them. In this case, Mehmet wants to stay to watch the movie because he already made the initial investment of purchasing the tickets. However, this is another waste or resources, as he is now wasting time in an activity that he does not enjoy.

Answer 2

The answer is sunk cost fallacy. The sunk cost is dissimilar from economic loss. It may likewise be used as a mistake in breakdown because of the sunk cost fallacy, illogical decision-making or just, as unrelated data. Economists contend that sunk costs are not in use into when creating rational choices.