View: |
Part 1: Document Description
|
Citation |
|||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Title: |
Cognitive Abilities and Behavioral Biases [Dataset] |
||||||||||||
Identification Number: |
doi:10.11588/data/FC6TFM |
||||||||||||
Distributor: |
heiDATA |
||||||||||||
Date of Distribution: |
2018-11-02 |
||||||||||||
Version: |
1 |
||||||||||||
Bibliographic Citation: |
Oechssler, Jörg; Roider, Andreas; Schmitz, Patrick W., 2018, "Cognitive Abilities and Behavioral Biases [Dataset]", https://doi.org/10.11588/data/FC6TFM, heiDATA, V1, UNF:6:Ur0lg1+9V8E/LgM9GE822w== [fileUNF] |
||||||||||||
Citation |
|||||||||||||
Title: |
Cognitive Abilities and Behavioral Biases [Dataset] |
||||||||||||
Identification Number: |
doi:10.11588/data/FC6TFM |
||||||||||||
Authoring Entity: |
Oechssler, Jörg (Alfred-Weber-Institute of Economics, Heidelberg University, Germany) |
||||||||||||
Roider, Andreas (Alfred-Weber-Institute of Economics, Heidelberg University, Germany) |
|||||||||||||
Schmitz, Patrick W. (Department of Economics, University of Cologne, Germany) |
|||||||||||||
Distributor: |
heiDATA |
||||||||||||
Distributor: |
heiDATA: Heidelberg Research Data Repository |
||||||||||||
Access Authority: |
Oechssler, Jörg |
||||||||||||
Date of Deposit: |
2018-10-30 |
||||||||||||
Holdings Information: |
https://doi.org/10.11588/data/FC6TFM |
||||||||||||
Study Scope |
|||||||||||||
Keywords: |
Social Sciences, Behavioral finance, Biases, Cognitive abilities, Cognitive reflection test |
||||||||||||
Topic Classification: |
C91, D80, D90, J24 |
||||||||||||
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 [Frederick, S., 2005. Cognitive reflection and decision-making. Journal of Economic Perspectives 19, 25–42] 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. |
||||||||||||
Methodology and Processing |
|||||||||||||
Sources Statement |
|||||||||||||
Data Access |
|||||||||||||
Other Study Description Materials |
|||||||||||||
Related Publications |
|||||||||||||
Citation |
|||||||||||||
Title: |
Jörg Oechssler, Andreas Roider, Patrick W. Schmitz, Cognitive abilities and behavioral biases, Journal of Economic Behavior & Organization, Volume 72, Issue 1, 2009, Pages 147-152. |
||||||||||||
Identification Number: |
10.1016/j.jebo.2009.04.018 |
||||||||||||
Bibliographic Citation: |
Jörg Oechssler, Andreas Roider, Patrick W. Schmitz, Cognitive abilities and behavioral biases, Journal of Economic Behavior & Organization, Volume 72, Issue 1, 2009, Pages 147-152. |
||||||||||||
File Description--f2237 |
|||||||||||||
File: data-1.tab |
|||||||||||||
|
|||||||||||||
Notes: |
UNF:6:OfvALoHUKty/vq1z7bo5qg== |
||||||||||||
File Description--f2236 |
|||||||||||||
File: data.tab |
|||||||||||||
|
|||||||||||||
Notes: |
UNF:6:abtZT2ai4Jtp2ZsXAy2ttQ== |
||||||||||||
List of Variables: |
|
||||||||||||
Variables |
|||||||||||||
f2237 Location: |
Summary Statistics: Min. 1.0; StDev 4.2577240222110255; Max. 55.0; Valid 564.0; Mean 23.94326241134752 Variable Format: numeric Notes: UNF:6:MLSQakUSX6WecHCuybgf2w== |
||||||||||||
f2237 Location: |
Summary Statistics: Min. -99.0; Max. 5450.0; Mean 19.347517730496534; Valid 564.0; StDev 229.78816365010135; Variable Format: numeric Notes: UNF:6:C/5Zl4lbUOooxCTIgzaUpg== |
||||||||||||
f2237 Location: |
Variable Format: character Notes: UNF:6:p+CppmB0y+sG8TKlOBBGlg== |
||||||||||||
f2237 Location: |
Variable Format: character Notes: UNF:6:Rt0VnjVlCtLpRWLh7MAGiQ== |
||||||||||||
f2237 Location: |
Summary Statistics: StDev 4.343655068576887; Min. -99.0; Valid 564.0; Mean 3.290780141843972; Max. 4.0; Variable Format: numeric Notes: UNF:6:TBrCNrADXIMHlvLhYKGX/g== |
||||||||||||
f2237 Location: |
Summary Statistics: StDev 6.23423903670109; Max. 6.0; Valid 564.0; Min. -99.0; Mean 5.079787234042552 Variable Format: numeric Notes: UNF:6:aKU57BDQlUfJKfNhJ/P1rw== |
||||||||||||
f2237 Location: |
Summary Statistics: Mean 63.36956521739134; Valid 552.0; Min. -99.0; StDev 30.51822842557059; Max. 100.0 Variable Format: numeric Notes: UNF:6:ml0/BtgDbr71AL1AYoQEzA== |
||||||||||||
f2237 Location: |
Summary Statistics: Mean 40.41489361702123; Min. -99.0; Valid 564.0; Max. 1001.0; StDev 95.19913610379386 Variable Format: numeric Notes: UNF:6:mJQ2gDszsImM5ctSnIsUSQ== |
||||||||||||
f2237 Location: |
Summary Statistics: Mean 1.5478723404255332; Valid 564.0; StDev 6.010604519563807; Min. -99.0; Max. 2.0 Variable Format: numeric Notes: UNF:6:QoHaOAPQHeebLREBThQUvg== |
||||||||||||
f2237 Location: |
Summary Statistics: Mean 4.882978723404254; Max. 6.0; Valid 564.0; Min. -99.0; StDev 4.389207779346332; Variable Format: numeric Notes: UNF:6:Cwo+ad0mfdSzL+zsLeTm8Q== |
||||||||||||
f2237 Location: |
Summary Statistics: Valid 564.0; StDev 32.01595401105397; Min. -99.0; Mean 39.66843971631202; Max. 576.0 Variable Format: numeric Notes: UNF:6:JKm+NEeWZaIW1unQCsopmg== |
||||||||||||
f2237 Location: |
Summary Statistics: Mean 5.542553191489362; Valid 564.0; StDev 3.8238242422385866; Min. 0.0; Max. 20.0; Variable Format: numeric Notes: UNF:6:S9PYKBBRQ9/B02PqqD0POQ== |
||||||||||||
f2237 Location: |
Summary Statistics: Max. 97.0; Min. -99.0; Mean 47.74290780141845; StDev 25.523427111070877; Valid 564.0; Variable Format: numeric Notes: UNF:6:dlNsFXNNmFHfZvpHWfxx5A== |
||||||||||||
f2237 Location: |
Variable Format: character Notes: UNF:6:C8SH/fpywyRmzbHJFWY1Xw== |
||||||||||||
f2237 Location: |
Summary Statistics: Valid 564.0; Min. 2.0; Max. 739.0; StDev 178.06700824462632; Mean 302.4840425531916; Variable Format: numeric Notes: UNF:6:4eGYRVB5+nCFj22CxcYUug== |
||||||||||||
f2237 Location: |
Summary Statistics: Valid 564.0; StDev 25.02203531113521; Mean 34.91134751773049; Min. 10.0; Max. 60.0 Variable Format: numeric Notes: UNF:6:jecasyWJBlY51SMhx97iUQ== |
||||||||||||
f2236 Location: |
Summary Statistics: Min. 1.0; Valid 564.0; Max. 55.0; StDev 4.2577240222110255; Mean 23.94326241134752 Variable Format: numeric Notes: UNF:6:MLSQakUSX6WecHCuybgf2w== |
||||||||||||
f2236 Location: |
Summary Statistics: Mean 19.347517730496534; StDev 229.78816365010135; Min. -99.0; Valid 564.0; Max. 5450.0 Variable Format: numeric Notes: UNF:6:C/5Zl4lbUOooxCTIgzaUpg== |
||||||||||||
f2236 Location: |
Variable Format: character Notes: UNF:6:p+CppmB0y+sG8TKlOBBGlg== |
||||||||||||
f2236 Location: |
Variable Format: character Notes: UNF:6:Rt0VnjVlCtLpRWLh7MAGiQ== |
||||||||||||
f2236 Location: |
Summary Statistics: Min. -99.0; Max. 4.0; Valid 564.0; StDev 4.343655068576887; Mean 3.290780141843972 Variable Format: numeric Notes: UNF:6:TBrCNrADXIMHlvLhYKGX/g== |
||||||||||||
f2236 Location: |
Summary Statistics: Mean 5.079787234042552; Min. -99.0; Valid 564.0; StDev 6.23423903670109; Max. 6.0; Variable Format: numeric Notes: UNF:6:aKU57BDQlUfJKfNhJ/P1rw== |
||||||||||||
Two urns (A with 3b7r, B with 7b3r): Probability that 8r4b was drawn from A |
|||||||||||||
f2236 Location: |
Summary Statistics: StDev 30.51822842557059; Max. 100.0; Min. -99.0; Mean 63.36956521739134; Valid 552.0; Variable Format: numeric Notes: UNF:6:ml0/BtgDbr71AL1AYoQEzA== |
||||||||||||
f2236 Location: |
Summary Statistics: Max. 1001.0; StDev 95.19913610379386; Mean 40.41489361702123; Min. -99.0; Valid 564.0; Variable Format: numeric Notes: UNF:6:mJQ2gDszsImM5ctSnIsUSQ== |
||||||||||||
f2236 Location: |
Summary Statistics: Valid 564.0; StDev 6.010604519563807; Min. -99.0; Mean 1.5478723404255332; Max. 2.0; Variable Format: numeric Notes: UNF:6:QoHaOAPQHeebLREBThQUvg== |
||||||||||||
f2236 Location: |
Summary Statistics: StDev 4.389207779346332; Max. 6.0; Mean 4.882978723404254; Valid 564.0; Min. -99.0 Variable Format: numeric Notes: UNF:6:Cwo+ad0mfdSzL+zsLeTm8Q== |
||||||||||||
f2236 Location: |
Summary Statistics: Mean 39.66843971631202; Min. -99.0; StDev 32.01595401105397; Valid 564.0; Max. 576.0 Variable Format: numeric Notes: UNF:6:JKm+NEeWZaIW1unQCsopmg== |
||||||||||||
f2236 Location: |
Variable Format: character Notes: UNF:6:iCKpTgcrxp9p288uVlaKrw== |
||||||||||||
What fraction of subjects has answered all three questions correctly |
|||||||||||||
f2236 Location: |
Summary Statistics: Valid 564.0; Max. 97.0; Min. -99.0; Mean 47.74290780141845; StDev 25.523427111070877; Variable Format: numeric Notes: UNF:6:dlNsFXNNmFHfZvpHWfxx5A== |
||||||||||||
f2236 Location: |
Variable Format: character Notes: UNF:6:C8SH/fpywyRmzbHJFWY1Xw== |
||||||||||||
f2236 Location: |
Summary Statistics: Min. 2.0; StDev 178.06700824462632; Max. 739.0; Valid 564.0; Mean 302.4840425531916 Variable Format: numeric Notes: UNF:6:4eGYRVB5+nCFj22CxcYUug== |
||||||||||||
f2236 Location: |
Summary Statistics: StDev 25.02203531113521; Min. 10.0; Valid 564.0; Mean 34.91134751773049; Max. 60.0; Variable Format: numeric Notes: UNF:6:jecasyWJBlY51SMhx97iUQ== |
||||||||||||
Label: |
analyze.sps |
||||||||||||
Notes: |
application/x-spss-syntax |
||||||||||||
Label: |
readme.pdf |
||||||||||||
Notes: |
application/pdf |
||||||||||||
Label: |
readme.tex |
||||||||||||
Notes: |
text/x-tex |
||||||||||||
Label: |
results.pdf |
||||||||||||
Notes: |
application/pdf |