Final answer:
The sunk cost fallacy can explain why people might choose to attend a more expensive concert that they think they will enjoy less than a cheaper one.
Step-by-step explanation:
People may choose to go to a concert that is more expensive even if they think they will enjoy it less than the cheaper one due to the sunk cost fallacy. The sunk cost fallacy is the tendency to attach more value to things in which one has already invested resources, even when the value of those things is less than the investment. In this case, if someone has already purchased an expensive ticket to a concert, they may feel obliged to attend in order to justify the cost, even if they believe they will enjoy a cheaper concert more.