I Thought I Knew: The Dunning-Kruger Effect in the Principles of Economics Classes

Abstract

This research study provides evidence for the Dunning-Kruger effect from the principles of economics classes with students of Generation Z. We examine the Dunning-Kruger effect with a diverse student body from three universities. We used a classroom-experiment and collected data of students’ self-assessment on their final exam and paired these data with their actual exam grade, cumulative GPA, and personal characteristics. The results of our study show that although overestimation exists among students of all grade levels, students with a low GPA greatly overestimate their performance.