How to Model Age-Related Motivational Reorientations in Risky Choice
نویسندگان
چکیده
منابع مشابه
Age-related differences in adaptive decision making: Sensitivity to expected value in risky choice
While previous research has found that children make more risky decisions than their parents, little is known about the developmental trajectory for the ability to make advantageous decisions. In a sample of children, 5–11 years old, we administered a new risky decision making task in which the relative expected value (EV) of the risky and riskless choice options was varied over trials. Younger...
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Does risk taking change as a function of age? We conducted a systematic literature search and found 29 comparisons between younger and older adults on behavioral tasks thought to measure risk taking (N= 4,093). The reports relied on various tasks differing in several respects, such as the amount of learning required or the choice framing (gains vs. losses). The results suggest that age-related ...
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We examine the effect of variability in model parameters on the predictions of expected utility theory and cumulative prospect theory, two of the most influential choice models in decision making research. We find that zero-mean and symmetrically distributed noise in the underlying parameters of these models can systematically distort choice probabilities, leading to false conclusions. Likewise...
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ژورنال
عنوان ژورنال: Human Development
سال: 2011
ISSN: 1423-0054,0018-716X
DOI: 10.1159/000334943