The Cognitive Reflection Test was developed by Shane Frederick, Professor of Marketing at Yale School of Management. Dr. Fredrick makes a strong case for the predictive capacity of this three-question test as it relates to decision making. In particular he suggests that it can be a predictor for those who are good at utility theory and prospect theory. For greater insight into this test, read his Cognitive Reflection Article.
Cognitive Reflection Questions
- A bat and a ball cost $1.10 in total. The bat costs $1.00 more than the ball. How much does the ball cost? _____ cents
- If it takes 5 machines 5 minutes to make 5 widgets, how long would it take 100 machines to make 100 widgets? _____ minutes
- In a lake, there is a patch of lily pads. Every day, the patch doubles in size. If it takes 48 days for the patch to cover the entire lake, how long would it take for the patch to cover half of the lake? _____ days
Cognitive Reflection Answers
- The ball costs 5 cents. If the ball costs 5 cents, the bat costs $1.05. $1.05 + $0.05 = $1.10
- Five minutes. Each machine can make a widget in 5 minutes. The number of machines is irrelevant in this context.
- 47 days. If the patch doubles in size every day, and it covered the entire pond on the 48th day, then it would be half that size on the 47th day.