Articlegold2014

Cognitive reflection test and behavioral biases in Malaysia

Mohamed Shikh Abubaker Albaity · Mahfuzur Rahman · Islam Shahidul

27 citations0/0 files storedJudgment and Decision Making

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Decision-Making and Behavioral Economics Financial Literacy, Pension, Retirement Analysis Experimental Behavioral Economics Studies

Abstract

Abstract We asked whether behavioral biases are related to cognitive abilities of Malaysian youth. Frederick’s three-item Cognitive Reflection Test was used to understand the role of behavioral biases concerning behavioral economics and finance. The sample (n = 880) comprised of university students from different parts of Malaysia. We found significant CRT differences as a function of gender, race and age groups. In addition, lower scores on the CRT are correlated positively with time preference and conservatism, but not with risk preference or the conjunction fallacy.

Citations in this library

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References

2005Cognitive Reflection and Decision Making 1983Extensional versus intuitive reasoning: The conjunction fallacy in probability judgment.2011The Cognitive Reflection Test as a predictor of performance on heuristics-and-biases tasks 2007Individual differences in adult decision-making competence.2009Cognitive abilities and behavioral biases 2011Toward a synthesis of cognitive biases: How noisy information processing can bias human decision making.2012Cognitive sophistication does not attenuate the bias blind spot.2003Is probability matching smart? Associations between probabilistic choices and cognitive ability

Cited by

2017Comparison of experienced vs. novice teachers in cognitive reflection and rationality 2022Survey evidence on core factors of behavioral biases 2024Ambiguity attitudes toward natural and artificial sources in gain and loss domains 2019The role of cognitive reflection in decision making: Evidence from Pakistani managers 2019Individual differences and cognitive reflection across gender and nationality the case of the United Arab Emirates

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