Rational ignorance occurs when people are not knowledgeable of something because:
A) those people have no incentives to learn anything.
B) the benefits of being informed are less than the cost of becoming informed.
C) they are simply irrational.
D) they are self-centered and lack the ability to learn.

Question

Quizplus · Accepted Answer

Rational ignorance occurs when people are not knowledgeable of something because the benefits of being informed are less than the cost of becoming informed. In other words, acquiring information requires effort, time, and sometimes money, and the benefits of being informed may not outweigh those costs.

Rational Ignorance Occurs When People Are Not Knowledgeable of Something