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Processing speed and memory mediate age-related differences in decision making.

Publication ,  Journal Article
Henninger, DE; Madden, DJ; Huettel, SA
Published in: Psychol Aging
June 2010

Decision making under risk changes with age. Increases in risk aversion with age have been most commonly characterized, although older adults may be risk seeking in some decision contexts. An important, and unanswered, question is whether these changes in decision making reflect a direct effect of aging or, alternatively, an indirect effect caused by age-related changes in specific cognitive processes. In the current study, older adults (M = 71 years) and younger adults (M = 24 years) completed a battery of tests of cognitive capacities and decision-making preferences. The results indicated systematic effects of age upon decision quality-with both increased risk seeking and increased risk aversion observed in different tasks-consistent with prior studies. Path analyses, however, revealed that age-related effects were mediated by individual differences in processing speed and memory. When those variables were included in the model, age was no longer a significant predictor of decision quality. The authors conclude that the reduction in decision quality and associated changes in risk preferences commonly ascribed to aging are instead mediated by age-related changes in underlying cognitive capacities.

Duke Scholars

Published In

Psychol Aging

DOI

EISSN

1939-1498

Publication Date

June 2010

Volume

25

Issue

2

Start / End Page

262 / 270

Location

United States

Related Subject Headings

  • Young Adult
  • Risk-Taking
  • Reaction Time
  • Mental Recall
  • Male
  • Individuality
  • Humans
  • Female
  • Experimental Psychology
  • Decision Making
 

Citation

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Henninger, D. E., Madden, D. J., & Huettel, S. A. (2010). Processing speed and memory mediate age-related differences in decision making. Psychol Aging, 25(2), 262–270. https://doi.org/10.1037/a0019096
Henninger, Debra E., David J. Madden, and Scott A. Huettel. “Processing speed and memory mediate age-related differences in decision making.Psychol Aging 25, no. 2 (June 2010): 262–70. https://doi.org/10.1037/a0019096.
Henninger DE, Madden DJ, Huettel SA. Processing speed and memory mediate age-related differences in decision making. Psychol Aging. 2010 Jun;25(2):262–70.
Henninger, Debra E., et al. “Processing speed and memory mediate age-related differences in decision making.Psychol Aging, vol. 25, no. 2, June 2010, pp. 262–70. Pubmed, doi:10.1037/a0019096.
Henninger DE, Madden DJ, Huettel SA. Processing speed and memory mediate age-related differences in decision making. Psychol Aging. 2010 Jun;25(2):262–270.

Published In

Psychol Aging

DOI

EISSN

1939-1498

Publication Date

June 2010

Volume

25

Issue

2

Start / End Page

262 / 270

Location

United States

Related Subject Headings

  • Young Adult
  • Risk-Taking
  • Reaction Time
  • Mental Recall
  • Male
  • Individuality
  • Humans
  • Female
  • Experimental Psychology
  • Decision Making