Wednesday, December 8, 2010

Choices and Opportunity Cost

Can information be too perfect? Can you have too much information when making a decision?  At what point does making the decision become an opportunity cost?

And this one is clearly about choice, but it's a groaner.

Frank & Ernest


Rasika said...

I don't believe that information can ever really hurt. It is there to inform the consumer of what they don't know. Information really protects the consumer from getting taking advantage of by big firms and companies, we are in bigger trouble than ever before.

Alex Gaston said...

I agree with Rasika. I don't think it is ever bad to have too much information, but it can make decisions harder. When it is difficult to determine a better opportunity cost to take, having too much information can complicate matters. However, I think many would is better to have to much information than too little information. Too little information can lead to inefficient policies, decisions, etc.