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Economics 1st Edition by Dean Karlan,Jonathan Morduch
Edition 1ISBN: 978-0073511498Economics 1st Edition by Dean Karlan,Jonathan Morduch
Edition 1ISBN: 978-0073511498 Exercise 11
Determine whether each of the following represents rational ignorance.
a. Doug doesn't know the return on his retirement account in the last quarter or the types of investments that comprise the account.
b. Sally doesn't know about a new provision in nuclear energy regulation, which is decided by a national panel overseen by nuclear physicists.
c. Jim doesn't know whether to support new requirements for licensing among city contractors.
d. Tom doesn't know the average price of a parking ticket, despite parking on the street every day.
a. Doug doesn't know the return on his retirement account in the last quarter or the types of investments that comprise the account.
b. Sally doesn't know about a new provision in nuclear energy regulation, which is decided by a national panel overseen by nuclear physicists.
c. Jim doesn't know whether to support new requirements for licensing among city contractors.
d. Tom doesn't know the average price of a parking ticket, despite parking on the street every day.
Explanation
Verified
Verified
Rational ignorance:
Rational ignorance ...
Economics 1st Edition by Dean Karlan,Jonathan Morduch
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