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

^*Corresponding author for this work

Economics, Helsinki

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

14 Citations (Scopus)

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
Peer-reviewed scientific journal	Economics Letters
Volume	162
Pages (from-to)	41-44
Number of pages	4
ISSN	0165-1765
DOIs	https://doi.org/10.1016/j.econlet.2017.10.018
Publication status	Published - 01.01.2018
MoE publication type	A1 Journal article - refereed

Keywords

Cognitive abilities
Cognitive reflection
Intuitive behavior
Reflective behavior
Response times

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10.1016/j.econlet.2017.10.018Licence: CC BY-NC-ND

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Thinking fast, thinking badly

Abstract

Keywords

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