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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.
Hanlon's razor is an adage or rule of thumb that states: [1]. Never attribute to malice that which is adequately explained by stupidity. It is a philosophical razor that suggests a way of eliminating unlikely explanations for human behavior.
Rational irrationality is not doublethink and does not state that the individual deliberately chooses to believe something he or she knows to be false. Rather, the theory is that when the costs of having erroneous beliefs are low, people relax their intellectual standards and allow themselves to be more easily influenced by fallacious reasoning, cognitive biases, and emotional appeals.
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 of important information or facts.
It's a new year, which means anything can happen, including with people's finances. Consider This: I'm a Financial Advisor: 10 Most Awesome Things You Can Do for Your Finances in 2025 Find Out: Why...
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 ...
No person is perfect, so a perfect parent is someone that doesn’t exist, either. But some parents could really benefit from a course or two, or a reality check, at least. If you’re wondering ...
Heart disease is the No. 1 cause of death in the U.S. Yet, according to the American Heart Association, half of Americans are unaware of this sobering statistic. The good news is that a diet ...