Rational ignorance and voting behavior
In a previous paper by the author, a pivotal voter model in which it was predicted that in equilibria with information acquisition every voter was nearly uninformed, and the aggregate cost information acquisition was declined to zero when information aggregation was successful was formulated and analyzed. The model in this paper, per contra, predicts that there will be a minority of voters with much better information that the rest, and that the aggregate cost of information acquisition will grow unboundedly when information aggregation is more successful.
scientific article; zbMATH DE number 5134046