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Risky decision making in younger and older adults: The role of learning.

Rolison, Jonathan J and Hanoch, Yaniv and Wood, Stacey (2012) 'Risky decision making in younger and older adults: The role of learning.' Psychology and Aging, 27 (1). pp. 129-140. ISSN 0882-7974

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Abstract

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. © 2011 American Psychological Association.

Item Type: Article
Uncontrolled Keywords: risky decision making; aging; risk taking; risk aversion; learning
Subjects: B Philosophy. Psychology. Religion > BF Psychology
Divisions: Faculty of Science and Health
Faculty of Science and Health > Psychology, Department of
SWORD Depositor: Elements
Depositing User: Elements
Date Deposited: 27 Jul 2017 11:34
Last Modified: 15 Jan 2022 00:57
URI: http://repository.essex.ac.uk/id/eprint/17332

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