Showing posts with label dunning-kruger effect. Show all posts
Showing posts with label dunning-kruger effect. Show all posts
Friday, 27 June 2014
K is for Kruger-Dunning Effect
The Kruger-Dunning Effect (or, more traditionally, the Dunning-Kruger Effect) identifies the issue that some people are too stupid to know that they're stupid. They're also completely convinced that they're correct, regardless of outcomes or feedback. This is a very dangerous combination, especially in a world of digital connectivity, where whoever is most confident is the guru most followed.
Sunday, 7 June 2009
Don’t Lose Money in the Stupid Corner
The Dunning-Kruger Effect
Justin Kruger and David Dunning have conducted some excellent research into incompetence, providing invaluable pointers for investors who don’t want to waste their lives following up dead-end leads and engaging in pointless debates. What they discovered is not just that the incompetent are, well, incompetent but that they’re so bloody stupid that don’t know that they’re completely useless.
In fact, sometimes they’re so dumb they can’t even tell when someone else is more knowledgeable than them. Think Forrest Gump debating quantum mechanics with Albert Einstein. Only one winner there, in Forrest’s eyes.
Justin Kruger and David Dunning have conducted some excellent research into incompetence, providing invaluable pointers for investors who don’t want to waste their lives following up dead-end leads and engaging in pointless debates. What they discovered is not just that the incompetent are, well, incompetent but that they’re so bloody stupid that don’t know that they’re completely useless.
In fact, sometimes they’re so dumb they can’t even tell when someone else is more knowledgeable than them. Think Forrest Gump debating quantum mechanics with Albert Einstein. Only one winner there, in Forrest’s eyes.
Subscribe to:
Posts (Atom)
