publication . Article . 2015

Cognitive Reflection Versus Calculation in Decision Making

Aleksandr eSinayev; Ellen ePeters;
Open Access English
  • Published: 01 May 2015 Journal: Frontiers in Psychology (issn: 1664-1078, Copyright policy)
  • Publisher: Frontiers Media S.A.
Abstract
Scores on the three-item Cognitive Reflection Test (CRT) have been linked with dual-system theory and normative decision making (Frederick, 2005). In particular, the CRT is thought to measure monitoring of System 1 intuitions such that, if cognitive reflection is high enough, intuitive errors will be detected and the problem will be solved. However, CRT items also require numeric ability to be answered correctly and it is unclear how much numeric ability vs. cognitive reflection contributes to better decision making. In two studies, CRT responses were used to calculate Cognitive Reflection and numeric ability; a numeracy scale was also administered. Numeric abil...
Subjects
free text keywords: individual differences, biases, numeracy, Cognitive Reflection Test, dual-system theories, Financial outcomes, Psychology, BF1-990
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