ISBN: 9780262336819 | 480 pp. | September 2016

The Rationality Quotient

Toward a Test of Rational Thinking
Why are we surprised when smart people act foolishly? Smart people do foolish things all the time. Misjudgments and bad decisions by highly educated bankers and money managers, for example, brought us the financial crisis of 2008. Smart people do foolish things because intelligence is not the same as the capacity for rational thinking. The Rationality Quotient explains that these two traits, often (and incorrectly) thought of as one, refer to different cognitive functions. The standard IQ test, the authors argue, doesn’t measure any of the broad components of rationality—adaptive responding, good judgment, and good decision making. 
The authors show that rational thinking, like intelligence, is a measurable cognitive competence. Drawing on theoretical work and empirical research from the last two decades, they present the first prototype for an assessment of rational thinking analogous to the IQ test: the CART (Comprehensive Assessment of Rational Thinking).
The authors describe the theoretical underpinnings of the CART, distinguishing the algorithmic mind from the reflective mind. They discuss the logic of the tasks used to measure cognitive biases, and they develop a unique typology of thinking errors. The Rationality Quotient explains the components of rational thought assessed by the CART, including probabilistic and scientific reasoning; the avoidance of “miserly” information processing; and the knowledge structures needed for rational thinking. Finally, the authors discuss studies of the CART and the social and practical implications of such a test. An appendix offers sample items from the test.

Table of Contents

  1. Preface
  2. Acknowledgments
  3. 1. Definitions of Rationality in Philosophy, Cognitive Science, and Lay Discourse
  4. 2. Rationality, Intelligence, and the Functional Architecture of the Mind
  5. 3. Overcoming Miserly Processing: Detection, Override, and Mindware
  6. 4. A Framework for the Comprehensive Assessment of Rational Thinking (CART)
  7. 5. Probabilistic and Statistical Reasoning
  8. 6. Scientific Reasoning
  9. 7. Avoidance of Miserly Information Processing: Direct Tests
  10. 8. Avoidance of Miserly Information Processing: Indirect Effects
  11. 9. Probabilistic Numeracy, Financial Literacy, Sensitivity to Expected Value, and Risk Knowledge
  12. 10. Contaminated Mindware
  13. 11. The Dispositions and Attitudes of Rationality
  14. 12. Associations among the Subtests: A Short-Form CART
  15. 13. Associations among the Subtests: The Full-Form CART
  16. 14. The CART: Context, Caveats, and Questions
  17. 15. The Social and Practical Implications of a Rational Thinking Test
  18. Appendix: Structure and Sample Items for the Subtests and Scales of the Comprehensive Assessment of Rational Thinking
  19. Notes
  20. References
  21. Author Index
  22. Subject Index