Search results
Results From The WOW.Com Content Network
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 ...
[7] Soon after the term bounded rationality appeared, studies in the topic area began examining the issue in depth. A study completed by Allais in 1953 began to generate ideas of the irrationality of decision making as he found that given preferences, individuals will not always choose the most rational decision and therefore the concept of ...
Imagine there's a game where one person is placed in a room and assigned the role of the "sender." A second person in a different room is assigned the role of "receiver." The sender is given $20 ...
In some cases, also non-mental results of rational processes may qualify as rational. For example, the arrangement of products in a supermarket can be rational if it is based on a rational plan. [6] [2] The term "rational" has two opposites: irrational and arational. Arational things are outside the domain of rational evaluation, like digestive ...
The original position (OP), often referred to as the veil of ignorance, is a thought experiment often associated with the works of American philosopher John Rawls. In the original position, one is asked to consider which principles they would select for the basic structure of society, but they must select as if they had no knowledge ahead of ...
The party that does not carry the burden of proof carries the benefit of assumption of being correct, they are presumed to be correct, until the burden shifts after presentation of evidence by the party bringing the action. An example is in an American criminal case, where there is a presumption of innocence by the defendant. Fulfilling the ...
Since the term irrationalism is often used as a derogatory accusation to criticize other positions as unreasonable, unscientific and thus wrong, it is controversial as a scientific category, especially in individual cases. Otherwise, however, the term is often used unspecifically and - like its counterpart, rationalism - in very different meanings.