Rational Ignorance Means

question 27

Multiple Choice

Rational ignorance means

• A) ignorance is rationed.
• B) the benefit from some information is not worth the cost of collecting it.
• C) some people do not understand rationality.
• D) the information is unavailable.

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Definitions:

Group Decision Making

The process by which a group of individuals collaboratively makes a choice from the alternatives.

Company Data

Information related to the business operations, financials, and performance metrics of a company.

Scientific Research

The systematic investigation into and study of materials and sources in order to establish facts and reach new conclusions.

Decision Cycle

A process that involves identifying a decision to be made, gathering information, assessing alternatives, choosing an option, and then learning from the outcome.