Erik Wengström
Professor, Director of Doctoral studies, Department of Economics
Thinking fast, thinking badly
Author
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