Publication: Age, Loss Minimization, and the Role of Probability for Decision-Making
Age, Loss Minimization, and the Role of Probability for Decision-Making
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Best, R., & Freund, A. M. (2018). Age, Loss Minimization, and the Role of Probability for Decision-Making. Gerontology, 64, 475–484. https://doi.org/10.1159/000487636
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Background: Older adults are stereotypically considered to be risk averse compared to younger age groups, although meta-analyses on age and the influence of gain/loss framing on risky choices have not found empirical evidence for age differences in risk-taking. Objective: The current study extends the investigation of age differences in risk preference by including analyses on the effect of the probability of a risky option on choices in gain versus loss situations. Methods: Participants (n = 130 adults aged 19–80 years) chose between
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- Best, Ryan
- Freund, Alexandra M
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Best, R., & Freund, A. M. (2018). Age, Loss Minimization, and the Role of Probability for Decision-Making. Gerontology, 64, 475–484. https://doi.org/10.1159/000487636
