Thinking fast, thinking badly

Jiménez, Natalia, Rodriguez-Lara, Ismael, Tyran, Jean-Robert and Wengstrom, Erik (2018) Thinking fast, thinking badly. Economics Letters, 162 . pp. 41-44. ISSN 0165-1765 (doi:10.1016/j.econlet.2017.10.018)

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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.

Item Type: Article
Research Areas: A. > Business School > Economics
Item ID: 22754
Notes on copyright: © 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/).
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Depositing User: Ismael Rodriguez-Lara
Date Deposited: 26 Oct 2017 14:52
Last Modified: 28 Aug 2019 11:55
URI: https://eprints.mdx.ac.uk/id/eprint/22754

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