Scale Validation:
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Scale development and validation.
- Across a range of measures of time preference, Ps with higher CRT scores were more patient (had lower discount rates) for short time horizons.
- Across a range of measures of risk preference, Ps with higher CRT scores were less risk-averse for gains and less risk-seeking for losses. (In other words, the reflection effect is reduced and even eliminated for Ps with high CRT scores.)
- Men scored higher than women on the CRT.
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Frederick (2005)
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Scale Uses:
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The CRT was presented to Ps in a fluent or disfluent font.
- Ps performed better on the CRT when it was presented in a disfluent font, t(38) = 2.25, p = .03, η2 = .12
- The authors conclude that disfluency increases systematic processing.
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Alter et al. (2007)
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The authors investigated the relationship between CRT scores and comfort with statistical concepts.
- Higher scores on the CRT were correlated with sensitivity to sample size (r = .23, p = .0008) and to mean difference (r = .32, p < .0001)
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Obrecht et al. (2007)
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The CRT was used as a disfluency cue.
- The authors conclude that taking the CRT and answering questions correctly activates "System 2" processes for subsequent tasks.
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Pinillos et al. (2011)
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- Alter, A., Oppenheimer, D., Epley, N., & Eyre, R. (2007). Overcoming intuition: Metacognitive difficulty activates analytic reasoning. Journal of Experimental Psychology: General, 136(4), 569-576. doi: 10.1037/0096-3445.136.4.569
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- Cokely, E. T., & Feltz, A. (2009). Individual differences, judgment biases, and theory-of-mind: Deconstructing the intentional action side effect asymmetry. Journal of Research in Personality, 43(1), 18-24. doi: 10.1016/j.jrp.2008.10.007
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- Oechssler, J., Roider, A., & Schmitz, P. W. (2009). Cognitive abilities and behavioral biases. Journal of Economic Behavior & Organization, 72(1), 147-152. doi: 10.1016/j.jebo.2009.04.018
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- Pinillos, N. Ángel, Nick Smith, G. Shyam Nair, Peter Marchetto and Cecilea Mun. (2011). Philosophy's New Challenge: Experiments and Intentional Action. Mind and Language, 26(1),115-139. DOI: 10.1111/j.1468-0017.2010.01412.x
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