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| Author: | Weller, J.A. Levin, I.P. Denburg, N.L. |
| Title: | Trajectory of risky decision making for potential gains and losses from ages 5 to 85 |
| Journal: | Journal of Behavioral Decision Making
2011 : OCT, VOL. 24:4, p. 331-344 |
| Index terms: | risk decision making cognition ageing |
| Language: | eng |
| Abstract: | The ability of making advantageous decisions under uncertainty is an essential human skill. This study tracks from childhood through older adulthood the developmental trajectory of risk taking for gains and losses, and expected value (EV) sensitivity in risky choices. In the gain domain, risk taking decreased consistently across the lifespan. In the loss domain, risk taking was relatively constant across ages, a result attributed to the loss aversion pervasiveness. EV sensitivity showed an inverted-U-shaped function, increasing from childhood to adulthood but then decreasing for the elderly (for both risky gains and risky losses). This finding is consistent with neuropsychological and neuroanatomical evidence etc. |
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