A statistical explanation of the Dunning-Kruger effect

An explanation of the Dunning-Kruger effect is provided which does not require any psychological explanation, because it is derived as a statistical artefact. This is achieved by specifying a simple statistical model which explicitly takes the (random) boundary constraints into account. This model fits the data perfectly.

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Year of publication:	2021
Authors:	Magnus, Jan R. ; Peresetsky, Anatoly A.
Publisher:	Amsterdam and Rotterdam : Tinbergen Institute
Subject:	Dunning-Kruger effect \| Boundary conditions \| Tobit model

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Series:	Tinbergen Institute Discussion Paper ; TI 2021-092/III
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
Other identifiers:	1778227937 [GVK] hdl:10419/248776 [Handle] RePEc:tin:wpaper:20210092 [RePEc]
Classification:	A22 - Undergraduate ; C24 - Truncated and Censored Models ; C91 - Laboratory, Individual Behavior ; D84 - Expectations; Speculations ; D91 - Intertemporal Consumer Choice; Life Cycle Models and Saving ; I21 - Analysis of Education
Source:	EconStor

Persistent link: https://www.econbiz.de/10012797250