What question did this study set out to answer?

To introduce the Cognitive Reflection Test as a measure of impulse suppression and evaluate how cognitive reflection relates to core decision-making characteristics like time and risk preferences.

November 1, 2005The Journal of Economic PerspectivesOpen Access

Cognitive Reflection and Decision Making

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Authors

SFShane FrederickYale University

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Implication

Behavioral assessment reveals that cognitive reflection predicts time and risk preferences in adults, suggesting decision traits reflect underlying cognitive ability.

Key Points

To introduce the Cognitive Reflection Test as a measure of impulse suppression and evaluate how cognitive reflection relates to core decision-making characteristics like time and risk preferences.
Introduced the three-item Cognitive Reflection Test (CRT) to quantify an individual's ability to resist intuitive, incorrect responses in favor of reflective analysis.
Evaluated the association between CRT scores and decision-making frameworks, including expected utility theory and prospect theory.
Assessed performance differences across sexes and compared CRT results against other psychometric measures of cognitive ability and style.
Higher CRT scores strongly predicted distinct choice patterns in both time and risk preference domains, functioning directly as markers of cognitive capacity.
Substantial CRT performance differences emerged between men and women, correlating with observed sex differences in risk and time preferences.

Cite This Study

Shane Frederick (2005) studied this question.

synapsesocial.com/papers/6968580abcb7a974ea4ad81a https://doi.org/10.1257/089533005775196732

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Implication

Behavioral assessment reveals that cognitive reflection predicts time and risk preferences in adults, suggesting decision traits reflect underlying cognitive ability.

Cognitive Reflection and Decision Making

Discussion

Member takes

Implication

Key Points

Cite This Study

Cognitive Reflection and Decision Making

Discussion

Member takes

Implication

Key Points

Cite This Study

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