The Economics of Ignorance
Lecture no. 6 from the course: Thinking like an Economist: A Guide to Rational Decision Making
Taught by Professor Randall Bartlett | 30 min | Categories: The Great Courses Plus Online Economics & Finance Courses
In the first of three lectures examining how economists approach situations where information is incomplete, imperfect, or inaccurate, learn that there can indeed be an optimal level of ignorance. Also, explore some cost-efficient ways to reduce uncertainty.