| Title |
Differences in risk aversion between young and older adults
|
|---|---|
| Published in |
Neuroscience and Neuroeconomics, February 2012
|
| DOI | 10.2147/nan.s27184 |
| Pubmed ID | |
| Authors |
Steven M Albert, John Duffy |
| Abstract |
Research on decision-making strategies among younger and older adults suggests that older adults may be more risk averse than younger people in the case of potential losses. These results mostly come from experimental studies involving gambling paradigms. Since these paradigms involve substantial demands on memory and learning, differences in risk aversion or other features of decision-making attributed to age may in fact reflect age-related declines in cognitive abilities. In the current study, older and younger adults completed a simpler, paired lottery choice task used in the experimental economics literature to elicit risk aversion. A similar approach was used to elicit participants' discount rates. The older adult group was more risk averse than younger adults (p < .05) and also had a higher discount rate (15.6-21.0% vs. 10.3-15.5%, p < .01), indicating lower expected utility from future income. Risk aversion and implied discount rates were weakly correlated. It may be valuable to investigate developmental changes in neural correlates of decision-making across the lifespan. |
X Demographics
The data shown below were collected from the profiles of 9 X users who shared this research output. Click here to find out more about how the information was compiled.
Geographical breakdown
| Country | Count | As % |
|---|---|---|
| United States | 3 | 33% |
| Poland | 1 | 11% |
| Germany | 1 | 11% |
| Finland | 1 | 11% |
| Unknown | 3 | 33% |
Demographic breakdown
| Type | Count | As % |
|---|---|---|
| Members of the public | 7 | 78% |
| Practitioners (doctors, other healthcare professionals) | 1 | 11% |
| Scientists | 1 | 11% |
Mendeley readers
The data shown below were compiled from readership statistics for 176 Mendeley readers of this research output. Click here to see the associated Mendeley record.
Geographical breakdown
| Country | Count | As % |
|---|---|---|
| Germany | 1 | <1% |
| Italy | 1 | <1% |
| United Kingdom | 1 | <1% |
| Denmark | 1 | <1% |
| Spain | 1 | <1% |
| United States | 1 | <1% |
| Unknown | 170 | 97% |
Demographic breakdown
| Readers by professional status | Count | As % |
|---|---|---|
| Student > Ph. D. Student | 39 | 22% |
| Student > Bachelor | 31 | 18% |
| Student > Master | 22 | 13% |
| Student > Doctoral Student | 11 | 6% |
| Researcher | 9 | 5% |
| Other | 25 | 14% |
| Unknown | 39 | 22% |
| Readers by discipline | Count | As % |
|---|---|---|
| Psychology | 36 | 20% |
| Economics, Econometrics and Finance | 35 | 20% |
| Business, Management and Accounting | 11 | 6% |
| Medicine and Dentistry | 8 | 5% |
| Social Sciences | 8 | 5% |
| Other | 29 | 16% |
| Unknown | 49 | 28% |
Attention Score in Context
This research output has an Altmetric Attention Score of 47. This is our high-level measure of the quality and quantity of online attention that it has received. This Attention Score, as well as the ranking and number of research outputs shown below, was calculated when the research output was last mentioned on 17 April 2024.
All research outputs
#912,454
of 25,743,152 outputs
Outputs from Neuroscience and Neuroeconomics
#2
of 29 outputs
Outputs of similar age
#5,407
of 255,172 outputs
Outputs of similar age from Neuroscience and Neuroeconomics
#1
of 1 outputs
Altmetric has tracked 25,743,152 research outputs across all sources so far. Compared to these this one has done particularly well and is in the 96th percentile: it's in the top 5% of all research outputs ever tracked by Altmetric.
So far Altmetric has tracked 29 research outputs from this source. They typically receive more attention than average, with a mean Attention Score of 7.8. This one scored the same or higher as 27 of them.
Older research outputs will score higher simply because they've had more time to accumulate mentions. To account for age we can compare this Altmetric Attention Score to the 255,172 tracked outputs that were published within six weeks on either side of this one in any source. This one has done particularly well, scoring higher than 97% of its contemporaries.
We're also able to compare this research output to 1 others from the same source and published within six weeks on either side of this one. This one has scored higher than all of them