Cognitive Reflection Test

The cognitive reflection test (CRT) is a task designed to measure a person's tendency to override an incorrect "gut" response and engage in further reflection to find a correct answer. It was first described in 2005 by psychologist Shane Frederick.... The test has been found to correlate with many measures of economic thinking, such as numeracy, temporal discounting, risk preference, and gambling preference. It has also been correlated with measures of mental heuristics, such as the gambler's fallacy, understanding of regression to the mean, the sunk cost fallacy, and others. https://en.wikipedia.org/wiki/Cognitive_reflection_test

Decision-Making Individual Differences Inventory - Cognitive Reflection Test

The CRT was designed to assess a specific cognitive ability. It assesses individuals' ability to suppress an intuitive and spontaneous ("system 1") wrong answer in favor of a reflective and deliberative ("system 2") right answer.

3 brainteaser items using a free-response format: If it takes 5 machines 5 minutes to make 5 widgets, how long would it take 100 machines to make 100 widgets?

Ps with higher CRT scores were more patient (had lower discount rates) for short time horizons.

Ps with higher CRT scores were less risk-averse for gains and less risk-seeking for losses.

Scale Uses:

The authors conclude that taking the CRT and answering questions correctly activates "System 2" processes for subsequent tasks.

cf Reflective Thought