> Barnabas Szaszi and colleagues conducted four studies to explore how well people understand the wealth held by others. In one study, 990 US residents recruited online were asked to estimate the minimum annual household income thresholds of various percentiles of American earners.
That study shows that people are worse at estimating income brackets as the brackets increasingly become outliers. Look at how the variance in estimations increases sharply at higher brackets. That they tend to underestimate the outlier brackets doesn't indicate that 19% of Americans think they're in the top 1%...
I'm not; this sort of thing is quite well documented.
https://phys.org/news/2024-09-people-underestimate-income.ht...
> Barnabas Szaszi and colleagues conducted four studies to explore how well people understand the wealth held by others. In one study, 990 US residents recruited online were asked to estimate the minimum annual household income thresholds of various percentiles of American earners.