“Nothing has changed about the choice except what you’ve spent to get the tickets: time in the first case, money in the second. What this and other experiments confirm is what you might expect: we are more sensitive to small losses of money than small losses of time. We feel we’ve lost more if we choose cheaper tickets than we do if we choose tickets based on working fewer hours. You probably felt this when you were making the ticket choice. Two hundred dollars is a lot to give up. On the other hand, fifteen hours of time isn’t that much more than five hours.”