Del Missier, F, Hansson, P, Parker, AM et al. (2 more authors) (2020) Decision-Making Competence in Older Adults: A Rosy View From a Longitudinal Investigation. Psychology and Aging, 35 (4). pp. 553-564. ISSN 0882-7974
Abstract
Cross-sectional studies have suggested age-related differences in decision-making competence, but these differences may also reflect cohort-related effects. We present a longitudinal study of age-related changes over 5 years in older adults (aged 60-85) for 3 important aspects of decision-making competence: resistance to framing, applying decision rules, and resistance to sunk costs. The findings show small age-related longitudinal declines in resistance to framing but no decline in applying decision rules or resistance to sunk costs. The results also indicate that individuals' decision-making competence after 5 years is significantly related to their initial decision-making competence assessment and that the contribution of crystallized abilities to decision making in older adults is greater than previously thought.
Metadata
Item Type: | Article |
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Authors/Creators: |
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Copyright, Publisher and Additional Information: | © 2020 American Psychological Association. This paper is not the copy of record and may not exactly replicate the authoritative document published in the APA journal. Please do not copy or cite without author's permission. Uploaded in accordance with the publisher's self-archiving policy. |
Keywords: | Decision-making competence, decision making, cognitive aging, individual differences, cognitive reserve |
Dates: |
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Institution: | The University of Leeds |
Academic Units: | The University of Leeds > Faculty of Business (Leeds) > Management Division (LUBS) (Leeds) > Management Division Decision Research (LUBS) |
Funding Information: | Funder Grant number Riksbankens Jubileumsfond M14-0138:1 |
Depositing User: | Symplectic Publications |
Date Deposited: | 02 Jan 2020 11:46 |
Last Modified: | 03 Jul 2020 04:21 |
Status: | Published |
Publisher: | American Psychological Association |
Identification Number: | 10.1037/pag0000443 |
Open Archives Initiative ID (OAI ID): | oai:eprints.whiterose.ac.uk:154918 |