Complex decisions require a lot of knowledge, say economists, especially when it comes to investing. The cognitive researcher Ralph Hertwig claims the opposite – and explains why it can be a good thing not to know everything.
Mister Hertwig, you are researching what is known as Deliberate Ignorance at the Max Planck Institute – i.e. the benefits of conscious ignorance. Why should information gaps be a good thing?
I wouldn’t point it out like that. However, there are circumstances under which willed ignorance – or more precisely: willful ignorance – occurs for psychologically understandable and sometimes even rational reasons. That’s why not wanting to know has such a negative connotation. We live with the postulate that more knowledge is always better – and that we should therefore always collect more knowledge. In fact, there are situations in which it is reasonable to want to know less.
What are you thinking about?
Source: Stern
