Rational ignorance is the decision not to acquire information because the marginal cost of doing so exceeds

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Rational ignorance is the decision not to acquire information because the marginal cost of doing so exceeds the marginal benefit. Each voter knows that he or she can make no difference to national defense policy and that it would take an enormous amount of time and effort to become even moderately well informed about alternative defense technologies.

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Foundations Of Microeconomics

ISBN: 9780134491981

8th Edition

Authors: Robin Bade, Michael Parkin

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