We used a mathematical modelling approach, based on a sample of 2,019 participants, to better understand what the cognitive reflection test (CRT, Frederick, 2005) measures. This test, which is typically completed in less than ten minutes, contains three problems, and aims to measure the ability or disposition to resist reporting the response that first comes to mind.However, since the test contains three mathematical based problems, it is possible that the test only measures mathematical abilities and not cognitive reflection. We found that the models that included an inhibition parameter (i.e., the probability of inhibiting an intuitive response), as well as a mathematical parameter (i.e., the probability of using an adequate mathematical procedure), fitted the data better than a model that only included a mathematical parameter. We also found that the inhibition parameter in males is best explained by both rational thinking ability and the disposition towards actively open-minded thinking, whereas in females this parameter was better explained by rational thinking only.With these findings this study contributes to the understanding of the processes involved in solving CRT, and will be particularly useful for researchers who are considering using this test in their research. Frederick (2005) with the purpose of measuring the construct cognitive reflection, which he defined as "the ability or disposition to resist reporting the response that first comes to mind" (Frederick, 2005, p. 35). KeywordsAs shown in Table 1 CRT contains three mathematical problems with the common feature that they all typically trigger a quick, intuitive response, which is not the correct answer. If the test taker realises that the intuitive response is not the correct answer, finding the correct solution requires relatively easy mathematical computations. Typically, a participant either solves a problem incorrectly or correctly within a few minutes. Research has shown that people find it difficult to solve these problems, and that those who perform well at CRT tend to perform well at numeracy tests, other general ability tests, and tend to avoid biases in Frederick's definition of cognitive reflection is intriguing because it encompasses the possibility that cognitive reflection is a thinking disposition. As noted by Toplak et al. (2011) thinking dispositions are typically measured with subjective reports, which are not always reliable (e.g., Nisbett & Wilson, 1977). CRT is a performance measure with an objective criterion. Thus, if the CRT, indeed, measures a thinking disposition it would constitute a substantial progress in measuring thinking dispositions.Researchers seem to disagree in whether CRT measures an ability or both an ability and a disposition. Cokely and Kelley (2009) Another group of researchers seem to view CRT as a measure of an ability (not a disposition), but they consider this ability as distinct from general cognitive abilities (e.g., intelligence, working memory). Toplak et al. (2011) referred to this ab...

In this study we examined the construct of financial wellness and its relationship to personal wellbeing, with a focus on the role of financial literacy. We made gender comparisons using a structural equation modeling analysis with variables that measured personal wellbeing, financial satisfaction, financial status, financial behavior, financial attitude, and financial knowledge. The research indicates that males ranked higher in financial satisfaction and financial knowledge than females; on the other hand, females ranked higher in personal wellbeing than males. The model of financial wellness proposed by Joo (2008) was operationalized to examine three alternative structural models. The model that best fitted the data was the one where financial wellness was conceived as a set of relations between variables. The relationship of all the variables to personal wellbeing was mediated by financial satisfaction, with some gender differences: In females the main source of financial satisfaction was financial status; in males it was financial knowledge.

The need for individuals to increase retirement savings has been widely promoted, yet our understanding of the motivations of individuals to save at a higher rate remains sparse. This paper reports the findings of a survey of 2300 retirement savings fund members and their motivations to contribute more to savings and to actively manage their investment strategy. Utilising the theory of planned behaviour, the study reveals respondent's self-reported attitudes, subjective norms and perceptions of behavioural control account for a high proportion of the variance in behavioural intention.Contrary to expectations, the study finds that respondent's risk tolerance adds little to the prediction of behavioural intention. By contrast, perceptions of planning importance and self-assessed planning preparedness (domain knowledge) are found to exert powerful indirect influences on behavioural intentions via the perceived behavioural control construct. This novel finding confirms the relevance of planning constructs and financial literacy to an understanding of retirement savings behaviour, and establishes a need to improve levels of financial literacy in society.

Background Broad community acceptance of a COVID-19 vaccination will be critical for effectively halting the spread of the virus. In this study, we focus on factors that differentiate those who are undecided from those who are either willing or unwilling to accept a prospective COVID-19 vaccine. Methods An online survey in May 2020 assessed Australian adults’ willingness to receive a COVID-19 vaccine (yes, maybe, no). A multinomial logistical regression of responses (N = 1,313) was used to identify correlates of vaccine willingness between the three groups. Results 65% were willing to vaccinate, with 27% being in the ‘maybe’ category. Respondents were more likely to be in the ‘maybe’ than the ‘yes’ group when they perceived COVID-19 to be less severe, had less trust in science, were less willing to vaccinate for influenza, and were female. They were more likely to be in the ‘maybe’ than ‘no’ group when they perceived COVID-19 as severe, and less likely to be a hoax, had more trust in science, and greater willingness to vaccinate for influenza. A repeat of the survey in November 2020 with a subset of participants found fewer of them saying yes to the vaccine (56%) and more saying maybe (31%). Conclusions The effectiveness of any COVID-19 vaccine rollout will be reliant on maximizing uptake. The significant number of people who remain undecided about whether or not to get a COVID-19 vaccine, despite the ongoing devastating consequences of the virus for individuals, communities, and economies, is concerning. Our findings aid current research seeking to inform policy regarding how to convince the undecided to vaccinate.

No abstract