Thinking fast, thinking badly
Natalia Jiménez (),
Jean-Robert Tyran () and
Erik Wengström ()
No 17-24, Discussion Papers from University of Copenhagen. Department of Economics
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
New Economics Papers: this item is included in nep-cbe, nep-exp and nep-neu
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Journal Article: Thinking fast, thinking badly (2018)
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Persistent link: https://EconPapers.repec.org/RePEc:kud:kuiedp:1724
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