Economics : Micro 4
Economics : Micro 4
4th Edition
ISBN: 9781305436855
Author: MCEACHERN
Publisher: CENGAGE L
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Chapter 16, Problem 2.6PA
To determine

The consistency of offering “middle of the road” platforms with the median voter and rational ignorance concept.

Concept Introduction:

Rational ignorance is the decision that maximizes the utility to remain ignorant on a particular topic. If the action outweighs the opportunity cost of other actions then the decision is taken and if the cost remains short then the decision is not taken. There exist a theorem of median voters that states that “a majority rule voting system will select the outcome most preferred by the median voter".

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