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Portrait of Erik Wengström. Photo.

Erik Wengström

Professor, Director of Doctoral studies, Department of Economics

Portrait of Erik Wengström. Photo.

Thinking fast, thinking badly

Author

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

Summary, in English

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.

Department/s

  • Department of Economics

Publishing year

2018-01-01

Language

English

Pages

41-44

Publication/Series

Economics Letters

Volume

162

Document type

Journal article

Publisher

Elsevier

Topic

  • Economics

Keywords

  • Cognitive abilities
  • Cognitive reflection
  • Intuitive behavior
  • Reflective behavior
  • Response times

Status

Published

ISBN/ISSN/Other

  • ISSN: 0165-1765