Monetary losses do not loom large in later life: Age differences in the framing effect

Journals of Gerontology - Series B Psychological Sciences and Social Sciences

Volumn 64, Issue 4, 2009, Pages 457-460

  Mikels, Joseph A ^a   Reed, Andrew E ^a  

^a Department of Obstetrics Gynecology   (United States)

Author keywords

Aging; Biases; Decision making; Framing

Indexed keywords

ADULT; AGE DISTRIBUTION; AGED; ARTICLE; AVERSIVE BEHAVIOR; BEHAVIOR; CONTROLLED STUDY; DECISION MAKING; FEMALE; HIGH RISK BEHAVIOR; HUMAN; HUMAN EXPERIMENT; MALE; MONEY; PATHOLOGICAL GAMBLING; PRIORITY JOURNAL; TASK PERFORMANCE; AGE; ECONOMICS; INVESTMENT; PSYCHOLOGICAL ASPECT;

AGE FACTORS; AGED; DECISION MAKING; FEMALE; GAMBLING; HUMANS; INVESTMENTS; MALE; RISK-TAKING; YOUNG ADULT;

EID: 67650759582     PISSN: 10795014     EISSN: None     Source Type: Journal    
DOI: 10.1093/geronb/gbp043     Document Type: Article

References (16)

1. Carstensen, L. L., Mikels, J. A., & Mather, M. (2006). Aging and the intersection of cognition, motivation and emotion. In J. Birren & K. W. Schaie (Eds.), Handbook of the psychology of aging (6th ed., pp. 343-362). San Diego : Academic Press.
2. De Martino, B., Kumaran, O., Seymour, B., & Dolan, R. J. (2006). Frames, biases, and rational decision-making in the human brain. Science, 313, 684-687.
3. Harinck, F., Van-Dijk, E., Van-Beest, I., & Mersmann, P. (2007). When gains loom larger than losses: Reversed loss aversion for small amounts of money. Psychological Science, 18, 1099-1105.
4. Idson, L., Liberman, N., & Higgins, E. T. (2000). Distinguishing gains from nonlosses and losses from nongains: A regulatory focus perspective on hedonic intensity. Journal of Experimental Social Psychology , 36, 252-274.
5. Kahneman, D., & Tversky, A. (2000). Choices, values, and frames. New York : Cambridge University Press.
6. Kim, S., Goldstein, D., Hasher, L., & Zacks, R. T. (2005). Framing effects in younger and older adults. Journal of Gerontology: Psychological Sciences, 60, 215-218.
7. MacPherson, S., Phillips, L., & Della-Sala, S. (2002). Age, executive function and social decision making: A dorsolateral prefrontal theory of cognitive aging. Psychology and Aging, 17, 598-609.
8. Mayhorn, C. B., Fisk, A. D., & Whittle, J. D. (2002). Decisions, decision: Analysis of age, cohort, and time of testing on framing risky decision options. Human Factors, 44, 515-521.
9. Peters, E., Hess, T. M., Vastfjall, D., & Auman, C. (2007). Adult age differences in dual information processes: Implications for the role of affective and deliberative processes in older adults ' decision making. Perspectives on Psychological Science, 2, 1-23.
10. Reyna, V. F., & Ellis, S. C. (1994). Fuzzy-trace theory and framing effects in children's risky decision making. Psychological Science, 5, 275-279.
11. Rönnlund, M., Karlsson, E., Laggnäs, E., Larsson, L., & Lindström, T. (2005). Risky decision making across three arenas of choice: Are younger and older adults differently susceptible to framing effects? Journal of General Psychology, 132, 81-93.
12. Samanez-Larkin, G. R., Gibbs, S. E. B., Khanna, K., Nielsen, L., Carstensen, L. L., & Knutson, B. (2007). Anticipation of monetary gain but not loss in healthy older adults. Nature Neuroscience, 10, 787-791.
13. Tversky, A., & Kahneman, D. (1981). The framing of decisions and the psychology of choice. Science, 211, 453-458.
14. Wahler, H. J. (1973). Wahler physical symptoms inventory. Los Angeles : Western Psychological Services.
15. Wechsler, D. (1997). Wechsler Adult Intelligence Scale (3rd ed.). San Antonio, TX : Psychological Corporation.
16. Wood, S., Busemeyer, J., Koling, A., Cox, C. R., & Davis, H. (2005). Older adults as adaptive decision makers: Evidence from the Iowa gambling task. Psychology and Aging, 20, 220-225.