Because information is costly to acquire,
A) people will rationally choose not to become fully informed when making decisions.
B) people will generally choose to become as fully informed as possible when making decisions.
C) people will generally choose to acquire no information that would be relevant to their decisions.
D) none of the above are true.

Question

Quizplus · Accepted Answer

People will rationally choose not to become fully informed when making decisions because the cost of acquiring all information may outweigh the benefits.

Because Information Is Costly to Acquire