Skiing last weekend I chanced into FREE lift tickets. I was very happy:
* I enjoyed myself much more than I'd been anticipating. While I was in a bad mood before coming into the freebies (there was also a teenager involved ...), I was immediately relaxed and carefree afterwards.
* I felt free to stop anytime, not needing to "get my money's worth."
Neither of these sentiments seems to make much sense under standard consumer choice theory. Or at least the latter. Maybe the former is some kind of positive feedback from the unanticipated gift and hence higher consumer surplus from the trip.
If my reactions are typical (and I believe they are), how do we exploit such behavior to make better policy?
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