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?

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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

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