For instance, studies examining trade-offs between immediate and delayed outcomes suggest that older age is associated with reduced sensitivity for temporal delays ]. Targeted streams of research have examined how the weighing of specific characteristics varies with age. Older adults are also more likely to use heuristic strategies such as satisficing (i.e., choosing the first alternative that meets a given standard ), and they tend to draw more on their prior experiences and emotional responses than their younger counterparts, although see ]. ![]() For instance, when information is presented in a table, younger adults tend to use alternative-based strategies that trade off different characteristics within a given option, whereas older adults tend to use attribute-based strategies that compare a single characteristic across options. In general, older decision-makers favor strategies that are less complex and systematic. In this phase, age differences are seen in both the weight assigned to different characteristics and the strategies used to trade them off against each other. Once information has been acquired, it needs to be evaluated. These evaluations, in turn, inform Jane's future car purchases. The process culminates in decision implementation - the actual purchase of the car - followed by post-decision evaluation based on subjective criteria (e.g., driving experience) or objective criteria (e.g., fuel economy). maintenance fees) and weigh potential risks (e.g., safety ratings). She may consider one car at a time or compare specific features across several cars at once, and she must manage trade-offs between immediate and long-term outcomes (e.g., purchase price vs. She then employs strategies for evaluating the available information. Next, Jane begins to search for relevant information and makes decisions on what sources of information to consider (e.g., advertisements, reviews) and when to stop the search. Alternatively, she may avoid the decision by postponing her purchase or asking a trusted friend to choose a car for her. First, she identifies the need for a decision to be made (e.g., her old car is starting to show signs of wear) and she chooses to select a new one. Consider “Jane,” who is purchasing a new car. 1, bottom) in which each higher-order step entails lower-level choices. Of course, an aging workforce also raises questions about older employees' ability to make sound choices in occupational settings.Ĭontemporary views of decision-making propose a multistep, recursive process (Fig. Moreover, as active life spans are lengthening, traditional models of retirement are becoming obsolete and older adults are faced with momentous choices about phased retirement, late-life career changes, and the management of various sources of retirement income ( ). With growing efforts to empower patients, older patients are now more engaged in their medical choices than ever before. ![]() Biomedical breakthroughs have reduced early-life mortality from acute diseases, and thus more people live long enough to develop chronic conditions that require ongoing management ( ). Older adults not only make up a growing part of the world's population, but the societal changes and scientific advances that precipitated population aging further emphasize individual choice. As population aging extends beyond industrialized nations ( ), a better understanding of age differences in decision-making is gaining in importance.
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