Cognitive reflection predicts real-life decision outcomes, but not over and above personality and decision-making styles
Juanchich, M. and Dewberry, Chris and Sirota, M. and Narendran, S. (2015) Cognitive reflection predicts real-life decision outcomes, but not over and above personality and decision-making styles. Journal of Behavioral Decision Making 29 (1), pp. 52-59. ISSN 0894-3257.
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Abstract
The Cognitive Reflection Test (CRT), designed to assess the ability to inhibit intuition to process a problem analytically, predicts people's performance in many normative judgement and decision-making tasks (e.g., Bayesian reasoning, conjunction fallacy and ratio bias). However, how the CRT predicts normative decision-making performance is unclear, and little is known about the extent to which the CRT predicts real-life decision outcomes. We investigate the role of the CRT in predicting real-life decision outcomes and examine whether the CRT predicts real-life decision outcomes after controlling for two related individual differences: the Big Five personality traits and decision-making styles. Our results show that greater CRT scores predict positive real-life decision outcomes measured by the Decision Outcome Inventory. However, the effect size was small, and the relationship became non-significant after statistically controlling for personality and decision-making styles. We discuss the limited predictive role of cognitive reflection in real-life decision-making outcomes, along with the roles of personality and decision-making styles. Copyright © 2015 John Wiley & Sons, Ltd.
Metadata
| Item Type: | Article |
|---|---|
| Additional Information: | This is the peer reviewed version of the article, which has been published in final form at the link above. This article may be used for non-commercial purposes in accordance with Wiley Terms and Conditions for Self-Archiving. |
| Keyword(s) / Subject(s): | cognitive reflection, decision outcome, decision-making styles, personality, individual differences |
| School: | Birkbeck Faculties and Schools > Faculty of Business and Law > Birkbeck Business School |
| Depositing User: | Chris Dewberry |
| Date Deposited: | 08 Jul 2016 13:58 |
| Last Modified: | 02 Aug 2023 17:24 |
| URI: | https://eprints.bbk.ac.uk/id/eprint/15592 |
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