Measures of cognitive ability and choice inconsistency

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Standard

Measures of cognitive ability and choice inconsistency. / Willadsen, Helene; Zaccagni, Sarah; Piovesan, Marco; Wengström, Erik .

I: Journal of Economic Behavior & Organization, Bind 220, 04.2024, s. 495-506.

Publikation: Bidrag til tidsskrift › Tidsskriftartikel › Forskning › fagfællebedømt

Harvard

Willadsen, H, Zaccagni, S, Piovesan, M & Wengström, E 2024, 'Measures of cognitive ability and choice inconsistency', Journal of Economic Behavior & Organization, bind 220, s. 495-506. https://doi.org/10.1016/j.jebo.2024.02.029

APA

Willadsen, H., Zaccagni, S., Piovesan, M., & Wengström, E. (2024). Measures of cognitive ability and choice inconsistency. Journal of Economic Behavior & Organization, 220, 495-506. https://doi.org/10.1016/j.jebo.2024.02.029

Vancouver

Willadsen H, Zaccagni S, Piovesan M, Wengström E. Measures of cognitive ability and choice inconsistency. Journal of Economic Behavior & Organization. 2024 apr.;220:495-506. https://doi.org/10.1016/j.jebo.2024.02.029

Author

Willadsen, Helene ; Zaccagni, Sarah ; Piovesan, Marco ; Wengström, Erik . / Measures of cognitive ability and choice inconsistency. I: Journal of Economic Behavior & Organization. 2024 ; Bind 220. s. 495-506.

Bibtex

@article{c7df37b437a646c8bffdb1c5f2f1d4c0,
title = "Measures of cognitive ability and choice inconsistency",
abstract = "Cognitive skills affect individual choices. Researchers commonly use Raven{\textquoteright}s ProgressiveMatrices (RPM) tests and the Cognitive Reflection Test (CRT) to assess the relationship betweencognitive abilities and economic decision making. In this paper, we study the relationship be-tween these measures, and investigate the extent to which they are correlated and whether theyare best described as substitutes or complements. Combining a sample of 686 children and asample of 2,332 adults, we compare individual performances in the RPM test and CRT test. First,we report a significant positive correlation between the two measures of 0.3. Second, we docu-ment that performance in both the RPM test and CRT are significant predictors of behavioralinconsistency observed in incentivized time and risk preference elicitation tasks for children andrisk preference elicitation task for adults.",
author = "Helene Willadsen and Sarah Zaccagni and Marco Piovesan and Erik Wengstr{\"o}m",
year = "2024",
month = apr,
doi = "10.1016/j.jebo.2024.02.029",
language = "English",
volume = "220",
pages = "495--506",
journal = "Journal of Economic Behavior & Organization",
issn = "0167-2681",
publisher = "Elsevier",

}

RIS

TY - JOUR

T1 - Measures of cognitive ability and choice inconsistency

AU - Willadsen, Helene

AU - Zaccagni, Sarah

AU - Piovesan, Marco

AU - Wengström, Erik

PY - 2024/4

Y1 - 2024/4

N2 - Cognitive skills affect individual choices. Researchers commonly use Raven’s ProgressiveMatrices (RPM) tests and the Cognitive Reflection Test (CRT) to assess the relationship betweencognitive abilities and economic decision making. In this paper, we study the relationship be-tween these measures, and investigate the extent to which they are correlated and whether theyare best described as substitutes or complements. Combining a sample of 686 children and asample of 2,332 adults, we compare individual performances in the RPM test and CRT test. First,we report a significant positive correlation between the two measures of 0.3. Second, we docu-ment that performance in both the RPM test and CRT are significant predictors of behavioralinconsistency observed in incentivized time and risk preference elicitation tasks for children andrisk preference elicitation task for adults.

AB - Cognitive skills affect individual choices. Researchers commonly use Raven’s ProgressiveMatrices (RPM) tests and the Cognitive Reflection Test (CRT) to assess the relationship betweencognitive abilities and economic decision making. In this paper, we study the relationship be-tween these measures, and investigate the extent to which they are correlated and whether theyare best described as substitutes or complements. Combining a sample of 686 children and asample of 2,332 adults, we compare individual performances in the RPM test and CRT test. First,we report a significant positive correlation between the two measures of 0.3. Second, we docu-ment that performance in both the RPM test and CRT are significant predictors of behavioralinconsistency observed in incentivized time and risk preference elicitation tasks for children andrisk preference elicitation task for adults.

U2 - 10.1016/j.jebo.2024.02.029

DO - 10.1016/j.jebo.2024.02.029

M3 - Journal article

VL - 220

SP - 495

EP - 506

JO - Journal of Economic Behavior & Organization

JF - Journal of Economic Behavior & Organization

SN - 0167-2681

ER -

ID: 384406092