This document summarizes a study on how cognitive abilities influence decision making. The study assessed the role of general and specific cognitive abilities and used the Cognitive Reflection Test to examine the relationship between cognitive abilities and risk/time preferences. The results showed gender differences in cognitive abilities that impact decision making and consumer behavior. Individuals with different cognitive skills make distinct choices based on diverse outcomes. Future research could further explore how sex differences and specific cognitive processes affect consumer attitudes and behavior.

1. MKTG2101 Consumer Behaviour
Answer:
Objectives And Research Question
Objectives
Assessing the role of general intelligence.
Assessing the role of specific cognitive abilities.
To determine how these abilities play a role in influencing decision making.
Research Question
How do specific cognitive abilities influence and determine decision making?
Highlight the role of general intelligence in decision making?
Evaluate the role of specific cognitive abilities in decision making?
Theory
There are two main cognitive process types which are System 1 and System 2.
System 1 is the spontaneous and less attention seeking process, while System 2 is process
requires efforts, Concentration , and learned rules.
Contribution And Empirical Evidence
Contribution
The paper has contributed by introducing a three-item “Cognitive Reflection Test”.
The CRT also showed significant differences in men and women.
Empirical Evidence
The experiment suggests that gender differences impact on decision making and consumer
behavior.
The cognitive ability of people and risk and time preference is intricately connected.
Important Points, Study, And Results
The study mainly focuses on understanding the correlations between the cognitive abilities
and decision-making characteristics.
The author deployed Cognitive Reflection Test to examine the relation of cognitive abilities
with the two characteristics of risk and time preference.
Individuals with different cognitive abilities will experience diverse outcomes that further
warrants different choices.
Conclusion
Gender difference plays a very vital role in influencing the consumer needs
But the consumer behavior is also influenced by the psychometric factors, cultural factors
and others

2. Education is also important factor that influence the consumer behavior
Discussion Questions And Implications For Future Research
Discussion Questions
Discuss some of the other factors that can influence the decision making of consumers?
Can you identify some social and cultural factors that affect cognitive process and decision
making?
Do you think literacy has anything to do with cognitive processes of consumers?
Implications For Future Research
Future research can be carried out on how sex differences in relation to decision making
characteristics affects consumer attitudes.
It can also include the specifics of cognitive processes and their impact on consumer
behavior.