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    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 Schools and Departments > School of Business, Economics & Informatics > Organizational Psychology
    Depositing User: Chris Dewberry
    Date Deposited: 08 Jul 2016 13:58
    Last Modified: 10 Feb 2020 12:12
    URI: http://eprints.bbk.ac.uk/id/eprint/15592

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