Examlex
If you want to specify who can sign a document and include instructions for the signer, what should you do?
Rational-Ignorance Effect
The decision by individuals to remain uninformed about certain matters because the perceived cost of acquiring the information exceeds the expected benefit.
Shortsightedness Effect
The misallocation of resources that results because public-sector action is biased (1) in favor of proposals yielding clearly defined current benefits in exchange for difficult-to-identify future costs and (2) against proposals with clearly identifiable current costs that yield less concrete and less obvious future benefits.
Private-Sector Provision
The production and supply of goods and services by businesses or entities that are not part of the government or public sector.
Rationally Ignorant
A state where the cost of educating oneself on an issue exceeds the potential benefit that the knowledge would provide.
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