TY - JOUR
T1 - Risky decision making in younger and older adults
T2 - The role of learning
AU - Rolison, Jonathan J.
AU - Hanoch, Yaniv
AU - Wood, Stacey
PY - 2012
Y1 - 2012
N2 - Are older adults risk seeking or risk averse? Answering this question might depend on both the task used and the analysis performed. By modeling responses to the Balloon Analogue Risk Task (BART), our results illustrate the value of modeling as compared to relying on common analysis techniques. While analysis of overall measures suggested initially that older and younger adults do not differ in their risky decisions, our modeling results indicated that younger adults were at first more willing to take greater risks. Furthermore, older adults may be more cautious when their decision making is based on initial perceptions of risk, rather than learning following some experience with a task.
AB - Are older adults risk seeking or risk averse? Answering this question might depend on both the task used and the analysis performed. By modeling responses to the Balloon Analogue Risk Task (BART), our results illustrate the value of modeling as compared to relying on common analysis techniques. While analysis of overall measures suggested initially that older and younger adults do not differ in their risky decisions, our modeling results indicated that younger adults were at first more willing to take greater risks. Furthermore, older adults may be more cautious when their decision making is based on initial perceptions of risk, rather than learning following some experience with a task.
UR - http://www.scopus.com/inward/record.url?eid=2-s2.0-84863632195&partnerID=MN8TOARS
UR - https://www.scopus.com/pages/publications/84863632195
U2 - 10.1037/a0024689
DO - 10.1037/a0024689
M3 - Article
SN - 0882-7974
VL - 27
SP - 129
EP - 140
JO - Psychology and Aging
JF - Psychology and Aging
IS - 1
ER -