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Age differences in risk preference: A coordinated meta-analysis
Project funded by own resources |
Project title |
Age differences in risk preference: A coordinated meta-analysis |
Principal Investigator(s) |
Mata, Rui
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Project Members |
Liu, Yunrui
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Organisation / Research unit |
Departement Psychologie / Cognitive and Decision Sciences (Mata) |
Project start |
01.09.2019 |
Probable end |
31.08.2023 |
Status |
Completed |
Abstract |
The world is aging and on the brink of a demographic milestone: there soon will be more older adults than children and more individuals at extreme old age than ever before (United Nations, 2017; Piggott & Woodland, 2016). As both the proportion of older adults and the length of life increase throughout the world, a better understanding of age differences in dealing with risk and uncertainty have been increasingly emphasized. Older adults not only make up a growing part of the world’s population, but also the social changes and scientific advances that precipitated population aging further emphasize individual choice. The ability to make advantageous decisions in the face of risk and uncertainty is an essential human skill and scientists in many disciplines have observed that age is an important determinant of decision making. Previous researches have been inconclusive, however, showing different, and sometimes even opposite, age-related risk-taking trajectories. Although many studies suggested a decline in risk taking with age, some have suggested an increase in risk taking with age, and still others found no differences between risk-taking propensity of young and older adults (Best & Charness, 2015; Henninger, Madden, & Huettel, 2010; Mata, Josef, Samanez-Larkin, & Hertwig, 2011). This project will adopt a meta-analytic approach to summarize current results on adult age differences in risk preference. |
Financed by |
Other funds
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23/04/2024
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