Anthony Downs, in The Economic Theory of Democracy, argues that voters choose to remain "rationally ignorant" when they vote in elections, knowing relatively little about the candidates or the issues.What economic principle would you invoke to explain this behavior?

Question

Quizplus · Accepted Answer

The cost of information refers to the economic principle that acquiring information can be costly, and individuals will only do so if the benefits outweigh the costs. In the context of voting, it may not be worth the time, effort, or money for individuals to gather enough information to make an informed decision, especially if they feel that their vote will not significantly impact the outcome of the election. Therefore, they remain rationally ignorant.

Anthony Downs, in the Economic Theory of Democracy, Argues That