Thinking fast, thinking badly

Natalia Jimenez; Ismael Rodriguez-Lara; Jean-Robert Karl Tyran; Erik Roland Wengström

Thinking fast, thinking badly

Natalia Jimenez, Ismael Rodriguez-Lara, Jean-Robert Karl Tyran, Erik Roland 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.

Originalsprog	Engelsk
Antal sider	37
Status	Udgivet - 2017

Navn	University of Copenhagen. Institute of Economics. Discussion Papers (Online)
Nummer	17-24
ISSN	1601-2461

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Thinking fast, thinking badly

Abstract

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