The Becker–Stigler Conjecture

The Becker–Stigler Conjecture suggests that people's choices between different types of information and knowledge are influenced by the expected benefits and costs associated with acquiring that information. Essentially, individuals are more likely to seek out and consume knowledge when they perceive that it will provide them with valuable rewards, such as financial gain or personal satisfaction. Conversely, if the perceived costs outweigh the benefits, they may choose to ignore or avoid that information. This idea highlights how human decision-making regarding knowledge is often driven by a rational assessment of potential outcomes.