When Is It Reasonable to Choose Ignorance?

When Is It Reasonable to Choose Ignorance?
AP Photo/M. Spencer Green

Imagine you are about to buy a new home, and the real estate agent says, “I have some more information about the maintenance history of the house. Do you want to see it?” The question seems silly. Of course, you do. It’s a basic principle of economics and rational decision-making that, when making a transaction or a choice, more information is better.

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