Thinking fast, thinking badly

Article

Jimenez Jimenez, N., Rodriguez-Lara, I., Tyran, J. and Wengstrom, E. 2018. Thinking fast, thinking badly. Economics Letters. 162, pp. 41-44. https://doi.org/10.1016/j.econlet.2017.10.018
TypeArticle
TitleThinking fast, thinking badly
AuthorsJimenez Jimenez, N., Rodriguez-Lara, I., Tyran, J. and Wengstrom, E.
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.

KeywordsCognitive abilities; Cognitive reflection; Response times; Intuitive behavior; Reflective behavior
PublisherElsevier
JournalEconomics Letters
ISSN0165-1765
Electronic1873-7374
Publication dates
Online03 Nov 2017
Print01 Jan 2018
Publication process dates
Deposited26 Oct 2017
Accepted20 Oct 2017
Output statusPublished
Publisher's version
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File Access Level
Open
Copyright Statement

© 2017 The Authors. Published by Elsevier B.V. This is an open access article under the CC-BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/).

Digital Object Identifier (DOI)https://doi.org/10.1016/j.econlet.2017.10.018
Web of Science identifierWOS:000423001500011
LanguageEnglish
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