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Behavioral biases and cognitive reflection

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  • Hoppe, Eva I.
  • Kusterer, David J.

Abstract

In a large-scale laboratory experiment, we investigate whether subjects' scores on the cognitive reflection test (CRT) are related to their susceptibility to the base rate fallacy, the conservatism bias, overconfidence, and the endowment effect.

Suggested Citation

  • Hoppe, Eva I. & Kusterer, David J., 2011. "Behavioral biases and cognitive reflection," Economics Letters, Elsevier, vol. 110(2), pages 97-100, February.
    • Handle: RePEc:eee:ecolet:v:110:y:2011:i:2:p:97-100
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    References listed on IDEAS

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    More about this item

    Keywords

    Cognitive reflection test Base rate fallacy Conservatism Overconfidence Endowment effect;

    JEL classification:

    • C91 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Individual Behavior
    • D80 - Microeconomics - - Information, Knowledge, and Uncertainty - - - General
    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity

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