Correlations of cognitive reflection with judgments and choices

We investigated the role of individual differences in cognitive reflection in decision making. We measured the performance of 157 participants in the cognitive reflection test (Frederick, 2005) and a number of decision-making tasks. We examined the relation of cognitive reflection with performance in tasks that assess correspondence (as distinct from coherence), such as predicting the ratings of chess players. We found significant correlations between cognitive reflection and all the estimation measures in correspondence tasks. Our results suggest that cognitive reflection is a thinking disposition that includes more characteristics than originally proposed by Frederick (2005). We proposed that cognitive reflection is related to the concept of actively open-minded thinking (Baron, 1985, 2008). We concluded that cognitive reflection is a thinking disposition that interacts with knowledge, domain-specific heuristics and characteristics of the environment and that it may play an essential role in the adaptation of the decision maker to different environments and situations.cognitive reflection, open-minded thinking, heuristics, decision making.

Effects of immediacy of feedback on estimations and performance

We investigated the role of anticipation of feedback in performance and estimation about own performance. We submitted 155 participants to a test of verbal aptitude, and we requested them to give estimations of their own performance and the performance of other participants. There were two treatments: immediate feedback and delayed feedback. Participants in the immediate-feedback group were informed that they would receive feedback on their performance immediately after finishing the test, whereas participants in the delayed-feedback group were informed that they would receive feedback a week after taking the test. The immediate-feedback group performed better than the delayed-feedback group. Furthermore, the former underestimated their own performance. On the other hand, participants on the delayed-feedback group made unbiased estimations. We present a mathematical model based on construal-level theory, decision affect theory, temporal discounting, and Moore and Healy\u27s model of overestimation. The model suggests that the source of differences in performance and in estimations of own performance is a construal of the feedback situation that modifies the expected utility of the task

Campitelli-Labollita_Datset_Chessplayers&Students

This is a dataset of 25 chess players and 25 university students in a number of judgement and decision making tasks, the cognitive reflection test and Tower of London