Faith in intuition and cognitive reflection

Carlos Alós-Ferrer, Sabine Hügelschäfer

Research output: Contribution to journalArticle

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.

Original languageEnglish (US)
Pages (from-to)61-70
Number of pages10
JournalJournal of Behavioral and Experimental Economics
Volume64
DOIs
StatePublished - Oct 1 2016

Keywords

  • Behavioral biases
  • Cognitive reflection test
  • Intuition

ASJC Scopus subject areas

  • Applied Psychology
  • Social Sciences(all)
  • Economics and Econometrics

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