Thinking fast, thinking badly

Natalia Jiménez (), Ismael Rodriguez-Lara, Jean-Robert Tyran and Erik Wengström

No 17-24, Discussion Papers from University of Copenhagen. Department of Economics

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.

Keywords: cognitive ability; cognitive reflection; response time; intuitive behavior; reflective behavior (search for similar items in EconPapers)
JEL-codes: C91 (search for similar items in EconPapers)
Pages: 38 pages
Date: 2017-11-02
New Economics Papers: this item is included in nep-cbe, nep-exp and nep-neu
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Persistent link: https://EconPapers.repec.org/RePEc:kud:kuiedp:1724

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