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Marketers can take advantage of rational ignorance by increasing the complexity of a decision. If the difference in value between a quality product and a poor product is less than the cost to perform the research necessary to differentiate between them, then it is more rational for a consumer to just take his chances on whichever of the two is more convenient and available.
Rational ignorance does not predict any systemic biases in voter beliefs. Rather, it is consistent with voters having beliefs that are wrong in random ways with no overall direction of bias. Rational irrationality, on the other hand, predicts that systemic biases are apt to occur in areas where the policies that feel good are systemically ...
The adage was a submission credited in print to Robert J. Hanlon of Scranton, Pennsylvania, in a compilation of various jokes related to Murphy's law published in Arthur Bloch's Murphy's Law Book Two: More Reasons Why Things Go Wrong! (1980). [1] A similar quotation appears in Robert A. Heinlein's novella Logic of Empire (1941). [2]
One way in which one would attempt to shift the burden of proof is by committing a logical fallacy known as the argument from ignorance.It occurs when either a proposition is assumed to be true because it has not yet been proven false or a proposition is assumed to be false because it has not yet been proven true.
A quote from Buffett that is often misunderstood is: “Diversification is protection against ignorance. It makes little sense if you know what you are doing.”
Candidates such as Donald Trump and Kamala Harris have proposed terrible economic policies that have political appeal due to widespread voter ignorance, such as tariffs, mass deportation, price ...
Ignorance is a lack of knowledge or understanding. Deliberate ignorance is a culturally-induced phenomenon, the study of which is called agnotology . The word "ignorant" is an adjective that describes a person in the state of being unaware , or even cognitive dissonance and other cognitive relation, and can describe individuals who are unaware ...
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