Rational Ignorance is not Bliss: When do Lazy Voters Learn from Decentralised Policy Experiments?
نویسندگان
چکیده
منابع مشابه
When Ignorance is Bliss
It is commonly-accepted wisdom that more information is better, and that information should never be ignored. Here we argue, using both a Bayesian and a non-Bayesian analysis, that in some situations you are better off ignoring information if your uncertainty is represented by a set of probability measures. These include situations in which the information is relevant for the prediction task at...
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ignorance is bliss, 'tis folly to be wise. " Thomas Gray If ignorance were bliss, there is information you would pay not to have. Hence the question is whether a rationally-behaving agent would ever do such a thing. This paper demonstrates that 1. A Bayesian agent with a proper, countably additive prior never maximizes utility by paying not to see cost-free data. 2. The definition of " cost-fre...
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A rationally inattentive consumer processes information about his valuation prior to making his purchasing decision. In a monopoly pricing problem, I study the case in which information processing constraints restrict the consumer to finite information structures. The limiting, unconstrained case is analyzed as well. Any finite equilibrium information structure satisfies three properties: It is...
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Underneath the ignorance of adverse oral habits and general health practices in children proved to fetch harm, lies the basis and the motive in carrying out this study. This survey screened a total of 2636 children between the age group 4 and 15 years, residing in areas in South Kanara district and the prevalence of the adverse habits were assessed using a questionnaire and clinical examination...
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in this issue Does Financial Education Influence Retirement Saving? . . . . . . . . . . . . . . . . . .p 2 Research Methodology . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .p 3 Responses to Financial Education . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .p 3 Gender Differences . . . . . . . . . . . . . . . . . . . . . . . . . . . . ....
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ژورنال
عنوان ژورنال: Jahrbücher für Nationalökonomie und Statistik
سال: 2008
ISSN: 2366-049X,0021-4027
DOI: 10.1515/jbnst-2008-0406