At a museum you see a sign that says the following: “The amount you pay for a ticket for admission is up to you.” As a result, you decide to pay $10 for a ticket as that seems to be a fair price....

At a museum you see a sign that says the following: “The amount you pay for a ticket for admission is up to you.” As a result, you decide to pay $10 for a ticket as that seems to be a fair price. However, once you reach the ticket counter you see another sign saying: “Suggested admission is $25.” Subsequently, you change your mind and decide to pay $25 for admission. Identify the behavioral economic concept illustrated in this example and explain how it influenced your decision.