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Thinking fast, thinking badly

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

Economics Letters, 2018, vol. 162, issue C, 41-44

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 abilities; Cognitive reflection; Response times; Intuitive behavior; Reflective behavior (search for similar items in EconPapers)
JEL-codes: C91 (search for similar items in EconPapers)
Date: 2018
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