When is it rational to be ignorant? What does rational ignorance imply about the ability of...

When is it rational to be ignorant? What does rational ignorance imply about the ability of politicians to enact policies with concentrated benefits and dispersed costs?

Expert Solution

Ans

It is rational to be ignorant when the benefit exceeds the cost from the ignorant. It is a condition in which refraining from acquiring the knowledge is done since incentives offered for acquiring the knowledge on a particular issue is less than the cost associated with it .

Rational ignorance imply in the ability of the politicians to enact policies with concentrated benefits and dispersed costs . Like everyone in the society the politicians also seek to make rational decision based on the cost - benefit ratio analysis they concentrate their resources in the important decision making rather than unimportant.

The example showing how politicians enact policies with dispersed cost and concentrated benefit is that when the government has raised various policies for the companies manufacturing the tobacco, cigarette , alcohol to publish the message in the product regarding its harmful effects and also the warnings regarding the STDs and AIDS increased the use of contraceptives .

Rahul Sunny answered 1 year ago

Explain why economists say that voters are rationally ignorant about politics. How are rational ignorance, special...

Explain why economists say that voters are rationally ignorant about politics. How are rational ignorance, special interest groups, and economic inefficiency related? Explain why candidates with extreme views do not tend to get elected. Explain how politicians can use the concept of rational ignorance to their benefit.

QUESTION 1 The veil of ignorance makes us ignorant about the primary goods, that is, about...

QUESTION 1 The veil of ignorance makes us ignorant about the primary goods, that is, about those things everyone needs to live a decent life. True False 10 points QUESTION 2 Liberals disagree with libertarians about liberty. Liberals believe that liberty is not the most important thing. True False 10 points QUESTION 3 The difference principle explains what differences between people in society, in terms of wealth and income, are permissible. True False 10 points QUESTION 4...

Describe the concept of rational ignorance. What implications does this idea have for the prospect of...

Describe the concept of rational ignorance. What implications does this idea have for the prospect of a well-informed populace?

Which of the following statements regarding rational ignorance are true? Check all that apply. Rational voter...

Which of the following statements regarding rational ignorance are true? Check all that apply. Rational voter ignorance occurs when a voter chooses a candidate who supports policies that are not in the best economic interest of the voter. Because candidates take stands on a wide range of issues, a rationally ignorant voter may choose not to fully assess the costs and benefits of voting for a particular candidate. A rationally ignorant voter may choose a political candidate based simply on...

11. If “correlation does not imply causation,” what does it imply? 12. What are some of...

11. If “correlation does not imply causation,” what does it imply? 12. What are some of the possible reasons for large correlations between a pair of variables, X and Y? 17.What assumptions are required for a correlation to be a valid description of the relation between X and Y?

What does it mean when there's an overlap in a 95% confidence interval? What does that imply about the amount of evidence for a difference in the populations means?

Explain what the rational ignorance and median voter theories are (from public choice theory) and how...

Explain what the rational ignorance and median voter theories are (from public choice theory) and how they might influence voter turnout. Based on some quick research discuss the following main themes: How does voter turnout in the United States compare with other nations? What are some of the reasons that we have the turnout we do? Can you think of way to incentivize voter participation without having negative consequences?

If the ATC curve is continually declining, what does this imply about the MC curve?

Explain the law of demand. What does it imply about the shape of the demand curve?...

Explain the law of demand. What does it imply about the shape of the demand curve? What relationship is shown by a demand curve?

What is the missing fundamental/residue pitch? What does it imply about the extraction of pitch from...

What is the missing fundamental/residue pitch? What does it imply about the extraction of pitch from harmonic complexes? Be certain to describe the pitches of “inharmonic” complexes and how they depend on ratio of the center frequency of the complex to the frequency separation (or modulation rate). What are “peak picking” models? What phenomena can they explain? What problems do they encounter?

Question