tag:blogger.com,1999:blog-12974756.post705564355419245776..comments2023-07-08T12:28:53.416+02:00Comments on Amanuensis: Illusory Superiority and SignallingSimon Hallidayhttp://www.blogger.com/profile/04289994368497331598noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-12974756.post-79105930821920177472010-08-27T16:55:17.214+02:002010-08-27T16:55:17.214+02:00As far as signalling theory is concerned a require...As far as signalling theory is concerned a requirement of making the decision to signal your type (high or low ability) is that the agent knows his or her type (level of ability) beforehand because they should know the costs of effort, time and money that the signal will cost, and therefore also understand the signal. Consequently, it's a problem if you don't know your type. My point is that the theory fails because of what you say - the stereotypes of brilliant autodidacts and absent-minded PhDs (unless these people are signalling something other than education, which they might be). <br /><br />I'm not saying that people don't know their type in all circumstances, but in at least some circumstances where economists assume that people know their types, people probably don't. I'd say that education could be one of these. <br /><br />I also wasn't saying that employers in real life actually take education as a signal of ability, but rather that the economic theory of signalling has a problem when it comes to DK. In fact, I'd say that real world employers have come up with all kinds of ways independent of education in an attempt to screen candidates for jobs themselves because of education failing as a signal and, possibly, because of DK.Simon Hallidayhttps://www.blogger.com/profile/04289994368497331598noreply@blogger.comtag:blogger.com,1999:blog-12974756.post-47133272137058751832010-08-27T16:19:47.145+02:002010-08-27T16:19:47.145+02:00meta cognitive abilities are very important. It i...meta cognitive abilities are very important. It is interesting to note that empathy and concepts of other only evolves at ages 3-4 years. <br /><br />my guess is that metacognitive traits such as empathy probably have many forms similar to Gardners multiple intelligences. <br /><br />another interesting point is the social expectations vary from culture to culture in terms of what or how far knowledge should be stretched. asking for directions is a simple case in point.<br /><br />Warren Buffett as an investor does a great job with his concept of a "circle of competance" which he rigidly won't invest outside of. It is an internally and extrenally proscribed mental barrier limiting his actions and has served him well.<br /><br />Thanks for the post.Nick Gogertyhttps://www.blogger.com/profile/14564255432456707181noreply@blogger.comtag:blogger.com,1999:blog-12974756.post-47512877683947546522010-08-27T16:10:38.009+02:002010-08-27T16:10:38.009+02:00I'm not sure I see a contradiction, unless sig...I'm not sure I see a contradiction, unless signalling theory requires the ability to recognize one's own signals.<br /><br />Credentials are at best an imperfect signal of ability compared to actual performance. We all know the stereotypes of absent-minded Ph.D.s and brilliant autodidacts.<br /><br />Even in your own example, the DK victim who successfully completes an education is accurately signalling an ability to put in enough consistent effort to complete a degree program, vs. the DK victim who fails out, who signals an inability to do so. But employers don't generally think that ability to complete a degree program necessarily translates into high performance at a job in the same field--rather, it's some minimal baseline indicator.Lippardhttps://www.blogger.com/profile/16826768452963498005noreply@blogger.comtag:blogger.com,1999:blog-12974756.post-54544602481183795672010-08-04T13:23:33.634+02:002010-08-04T13:23:33.634+02:00Nice...
One point about the DK effect is that the...Nice...<br /><br />One point about the DK effect is that the incompetent think they're better than they are, and the more competent think they're worse than they are. So it's even WORSE for signalling theory.<br /><br />Empirical evidence > a theory some economist with physics envy came up with without much testing...Anony Mousehttps://www.blogger.com/profile/08077107616686254136noreply@blogger.com