Age Effects and Heuristics in Decision Making
نویسندگان
چکیده
منابع مشابه
Age Effects and Heuristics in Decision Making.
Using controlled experiments, we examine how individuals make choices when faced with multiple options. Choice tasks are designed to mimic the selection of health insurance, prescription drug, or retirement savings plans. In our experiment, available options can be objectively ranked allowing us to examine optimal decision making. First, the probability of a person selecting the optimal option ...
متن کاملAge Effects and Heuristics in Decision Making 1047
Using controlled experiments, we examine how individuals make choices when faced with multiple options. Choice tasks are designed to mimic the selection of health insurance, prescription drug, or retirement savings plans. In our experiment, available options can be objectively ranked allowing us to examine optimal decision making. First, the probability of a person selecting the optimal option ...
متن کاملDEPARTMENT OF ECONOMICS WORKING PAPER SERIES Age Effects and Heuristics in Decision Making
We examine in controlled experiments how individuals make choices when faced with multiple options. The choice tasks mimic the selection of health insurance, prescription drug, or retirement savings plans. However, in our experiment, the available options can be objectively ranked. We find that the probability of a person selecting the optimal option declines as the number of options increases,...
متن کاملHeuristics in Multi-attribute Decision Making: Effects of Representation Format
When probabilistic inferences have to be drawn based on cue values stored in long term memory, participants appear to use a number of different heuristics. These heuristics vary in the amount of available cue information that is retrieved and integrated, and in the degree to which cue validities are considered. One factor that is assumed to affect strategy selection is the representational form...
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Food decisions determine energy intake. Since overconsumption is the main driver of obesity, the effects of weight status on food decision-making are of increasing interest. An additional factor of interest is age, given the rise in childhood obesity, weight gain with aging, and the increased chance of type 2 diabetes in the elderly. The effects of weight status and age on food preference, food...
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ژورنال
عنوان ژورنال: Review of Economics and Statistics
سال: 2012
ISSN: 0034-6535,1530-9142
DOI: 10.1162/rest_a_00174