Thinking fast, thinking badly

Natalia Jimenez; Ismael Rodriguez-Lara; Jean Robert Tyran; Erik Wengström

doi:10.1016/j.econlet.2017.10.018

Thinking fast, thinking badly

Natalia Jimenez, Ismael Rodriguez-Lara, Jean Robert Tyran, Erik Wengström

Department of Economics

Research output: Contribution to journal › Article › peer-review

Abstract

We test for the construct validity of the cognitive reflection test (CRT) by eliciting response times. We find that incorrect answers to the CRT are quicker than correct answers. At the individual level, we classify subjects into impulsive and reflective, depending on whether they choose the incorrect intuitive answer or the correct answer the majority of the time. We show that impulsive subjects complete the test quicker than reflective subjects.

Original language	English
Pages (from-to)	41-44
Number of pages	4
Journal	Economics Letters
Volume	162
DOIs	https://doi.org/10.1016/j.econlet.2017.10.018
Publication status	Published - 2018 Jan 1

Subject classification (UKÄ)

Economics

Free keywords

Cognitive abilities
Cognitive reflection
Intuitive behavior
Reflective behavior
Response times

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10.1016/j.econlet.2017.10.018

Cite this

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title = "Thinking fast, thinking badly",

abstract = "We test for the construct validity of the cognitive reflection test (CRT) by eliciting response times. We find that incorrect answers to the CRT are quicker than correct answers. At the individual level, we classify subjects into impulsive and reflective, depending on whether they choose the incorrect intuitive answer or the correct answer the majority of the time. We show that impulsive subjects complete the test quicker than reflective subjects.",

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author = "Natalia Jimenez and Ismael Rodriguez-Lara and Tyran, {Jean Robert} and Erik Wengstr{\"o}m",

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AU - Tyran, Jean Robert

AU - Wengström, Erik

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N2 - We test for the construct validity of the cognitive reflection test (CRT) by eliciting response times. We find that incorrect answers to the CRT are quicker than correct answers. At the individual level, we classify subjects into impulsive and reflective, depending on whether they choose the incorrect intuitive answer or the correct answer the majority of the time. We show that impulsive subjects complete the test quicker than reflective subjects.

AB - We test for the construct validity of the cognitive reflection test (CRT) by eliciting response times. We find that incorrect answers to the CRT are quicker than correct answers. At the individual level, we classify subjects into impulsive and reflective, depending on whether they choose the incorrect intuitive answer or the correct answer the majority of the time. We show that impulsive subjects complete the test quicker than reflective subjects.

KW - Cognitive abilities

KW - Cognitive reflection

KW - Intuitive behavior

KW - Reflective behavior

KW - Response times

U2 - 10.1016/j.econlet.2017.10.018

DO - 10.1016/j.econlet.2017.10.018

M3 - Article

AN - SCOPUS:85033700393

SN - 0165-1765

VL - 162

SP - 41

EP - 44

JO - Economics Letters

JF - Economics Letters

ER -

Thinking fast, thinking badly

Abstract

Subject classification (UKÄ)

Free keywords

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