Market Awareness Of The "Dunning Kruger Effect" Theory

Abstract

The Dunning Kruger Effect, which states that individuals with little or no knowledge about a subject have more self-confidence than experts, was first put forward as a result of a social experiment in 1999. Over time, the concept has become a theory that has been accepted in the literature and has been the subject of studies in some branches of science and has been translated into Turkish as Cahil Cesareti. In this direction, the aim of the study is to analyze the Google search frequencies of the words "Dunning Kruger Effect" and "Ignorant Courage" and to determine the level of awareness of the concepts in the USA and Turkey comparatively. As a result of the Google Trends data and literature review, it has been determined that the Dunning Kruger Effect theory is known in the USA both in the general category and in the finance category. In Turkey, it has been seen that the related concept is known in the general category and has been the subject of some studies. In addition, it was stated that the related concept does not have financial awareness, as a result of both Google Trends data and literature search. In this direction, the study adds originality to the national literature at the stage of determining the level of awareness of the Dunning Kruger Effect theory, whose Turkish equivalent is Ignorant Courage, in the finance literature.