Cognitive abilities and behavioral biases

Oechssler, Jörg; Roider, Andreas; Schmitz, Patrick W.

[journal article]

dc.contributor.author	Oechssler, Jörg	de
dc.contributor.author	Roider, Andreas	de
dc.contributor.author	Schmitz, Patrick W.	de
dc.date.accessioned	2012-05-13T02:50:00Z	de
dc.date.accessioned	2012-08-29T23:00:49Z
dc.date.available	2012-08-29T23:00:49Z
dc.date.issued	2009	de
dc.identifier.uri	http://www.ssoar.info/ssoar/handle/document/29366
dc.description.abstract	We use a simple, three-item test for cognitive abilities to investigate whether established behavioral biases that play a prominent role in behavioral economics and finance are related to cognitive abilities. We find that higher test scores on the Cognitive Reflection Test of Frederick (2005) indeed are correlated with lower incidences of the conjunction fallacy and conservatism in updating probabilities. Test scores are also significantly related to subjects’ time and risk preferences. Test scores have no influence on the amount of anchoring, although there is evidence of anchoring among all subjects. Even if incidences of most biases are lower for people with higher cognitive abilities, they still remain substantial.	en
dc.language	en	de
dc.subject.ddc	Psychology	en
dc.subject.ddc	Psychologie	de
dc.subject.other	C91; D80; D90; J24; Behavioral finance; Biases; Cognitive abilities; Cognitive reflection test
dc.title	Cognitive abilities and behavioral biases	en
dc.description.review	begutachtet (peer reviewed)	de
dc.description.review	peer reviewed	en
dc.source.journal	Journal of Economic Behavior & Organization	de
dc.source.volume	72	de
dc.publisher.country	NLD
dc.source.issue	1	de
dc.subject.classoz	Allgemeine Psychologie	de
dc.subject.classoz	General Psychology	en
dc.identifier.urn	urn:nbn:de:0168-ssoar-293666	de
dc.date.modified	2012-05-14T10:44:00Z	de
dc.rights.licence	PEER Licence Agreement (applicable only to documents from PEER project)	de
dc.rights.licence	PEER Licence Agreement (applicable only to documents from PEER project)	en
ssoar.gesis.collection	SOLIS;ADIS	de
ssoar.contributor.institution	http://www.peerproject.eu/	de
internal.status	3	de
dc.type.stock	article	de
dc.type.document	journal article	en
dc.type.document	Zeitschriftenartikel	de
dc.rights.copyright	f	de
dc.source.pageinfo	147–152
internal.identifier.classoz	10703
internal.identifier.journal	196	de
internal.identifier.document	32
internal.identifier.ddc	150
dc.identifier.doi	https://doi.org/10.1016/j.jebo.2009.04.018	de
dc.description.pubstatus	Postprint	en
dc.description.pubstatus	Postprint	de
internal.identifier.licence	7
internal.identifier.pubstatus	2
internal.identifier.review	1
internal.check.abstractlanguageharmonizer	CERTAIN
internal.check.languageharmonizer	CERTAIN_RETAINED

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