Rational ignorance can not be seen in which of the following scenarios?
A) A student has a final exam in exactly three hours. He knows from past experience that without at least some sleep he will be useless on the exam. In spite of the fact that he still has four chapters to read for the exam, he decides to sleep for 2.5 hours.
B) You are a worker looking for work in a recessionary environment. You get a phone interview after which you are offered a job and have to start the next day. To secure a paycheck, you accept without doing any further research on the company.
C) You have to fly urgently. You buy the first ticket available and it is expensive, but you pay anyway because you do not have time to research other flights.
D) You have to fly urgently; however, you do extensive research for over an hour to find the best deal.

Question

Quizplus · Accepted Answer

Rational ignorance refers to the decision to not seek out additional information because the cost of obtaining that information outweighs the potential benefit. Option D shows a scenario where the individual spends a significant amount of time researching to find the best deal on a flight, indicating that they are not exhibiting rational ignorance. Options A, B, and C show scenarios where the individual is making a decision without seeking out additional information or conducting further research, which could be considered rational ignorance.

Rational Ignorance Can Not Be Seen in Which of the Following