COGNITIVE REFLECTION AND SOCIALLY BIASED DECISIONS

Abstract

In some circumstances, the social visibility of a person we interact with can distort our evaluations and predictions by inducing people to overestimate the value of choices that included renowned individuals. Individuals who show a propensity for cognitive reflection have been shown to be less susceptible to biases in reasoning and decision-making, and therefore they should be less influenced by overestimation of choices that include renowned individuals. To test such a hypothesis, the Cognitive Reflection Test and a decision task that included a choice to interact with a renowned individual were administered. Results demonstrated that participants who had a greater ability to implement cognitive reflection were less influenced by celebrity status. Findings support the idea that cognitive reflection is associated with a reduction of decision-making bias associated with social status.