Thinking Fast, Thinking Badly
- Author(s)
- Natalia Jimenez, ismael Rodriguez-Lara, Jean-Robert Tyran, Erik Wengström
- 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.
- Organisation(s)
- Department of Economics, Vienna Center for Experimental Economics
- External organisation(s)
- Lund University, Middlesex University, Universidad Pablo de Olavide
- Journal
- Economics Letters
- Volume
- 162
- Pages
- 41-44
- No. of pages
- 4
- ISSN
- 0165-1765
- DOI
- https://doi.org/10.1016/j.econlet.2017.10.018
- Publication date
- 01-2018
- Peer reviewed
- Yes
- Austrian Fields of Science 2012
- 502045 Behavioural economics
- Keywords
- ASJC Scopus subject areas
- Economics and Econometrics, Finance
- Portal url
- https://ucrisportal.univie.ac.at/en/publications/44861b67-d257-4d10-9c8a-7451cb2afe9b