What is your throw away value?
Concept:
Since childhood and the days I started receiving a reasonable amount of money each week (e.g. I'd got a job in the local cinema) I've had this concept of a throw-away-threshold. This is the amount of money that in a particular period, usually a day I'm prepared to twitter away to a hunch or meaningless indulgence.
At the age of 15 it was set at the amount of £1. Over the years I've watched it change and whilst watching a DIY home renovation program yesterday evening where it was clear their threshold had reached £200 I realised that at the grand age of 28 my threshold had reached £10.
I sighed and realised this had made my day, it feels grounding to still have a relatively low value before reasoning must take over from passion to take out my wallet.
I bet you know someone with Dunning-Kruger phenomenon?
I really did stumble on to this article and found a instant eureka moment. The explainable and profound need for lesser skilled people (within a particular subject domain) to talk up there knowledge when in the presence of experts was first identified after observation of a range of experiments by Justin Kruger and David Dunning at Cornell Uni. It was latter publish in the Journal of Personality and Social Psychology in 1999.
The phenomenon is known as Dunning-Kruger effect. A number of studies were conducted covering humour, logical reasoning and grammar. The finds suggest that those with less than expert skill when surrounded by experts will exaggerate and overstate their knowledge.
A synical person would probably find it profoundly interesting to conduct this research on a certain president in a certain western country - just to confirm the findings!
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