Universität zu Köln

Alos-Ferrer, Carlos ORCID: 0000-0002-1668-9784 and Huegelschaefer, Sabine (2016). Faith in intuition and cognitive reflection. J. Behav. Exp. Econ., 64. S. 61 - 71. NEW YORK: ELSEVIER SCIENCE INC. ISSN 2214-8051

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Abstract

We compare two different measures of impulsive or intuitive behavior, the Cognitive Reflection Test (CRT) and a well-established psychological scale known as Faith in Intuition (FI), and investigate their relation to common biases in probability judgment. Using data from two laboratory experiments and a series of classroom experiments, the evidence we obtain is mixed. CRT scores and FI correlated in two data sets out of three. Both measures appear to be partially informative for some of the biases, but the effects are not systematic and depend on which exact probability-judgment question is used. Overall, CRT scores explain more variance in probability-judgment biases than FI scores. Further, gender effects interact with FI but not with CRT. (C) 2015 Elsevier Inc. All rights reserved.

Item Type:	Journal Article
Creators:	Creators Email ORCID ORCID Put Code Alos-Ferrer, Carlos UNSPECIFIED orcid.org/0000-0002-1668-9784 UNSPECIFIED Huegelschaefer, Sabine UNSPECIFIED UNSPECIFIED UNSPECIFIED
URN:	urn:nbn:de:hbz:38-260756
DOI:	10.1016/j.socec.2015.10.006
Journal or Publication Title:	J. Behav. Exp. Econ.
Volume:	64
Page Range:	S. 61 - 71
Date:	2016
Publisher:	ELSEVIER SCIENCE INC
Place of Publication:	NEW YORK
ISSN:	2214-8051
Language:	English
Faculty:	Unspecified
Divisions:	Unspecified
Subjects:	no entry
Uncontrolled Keywords:	Keywords Language INDIVIDUAL-DIFFERENCES; DECISION-MAKING; PROBABILITY JUDGMENTS; BEHAVIORAL BIASES; THINKING STYLES; REPRESENTATIVENESS; FALLACY; CHOICE Multiple languages Economics Multiple languages
Refereed:	Yes
URI:	http://kups.ub.uni-koeln.de/id/eprint/26075