Work

Individual differences in loss aversion and preferences for skewed risks across adulthood.

Year: 2018

Type: article

Abstract: In a previous study, we found adult age differences in the tendency to accept more positively skewed gambles (with a small chance of a large win) than other equivalent risks, or an age-related positive-skew bias. In the present study, we examined whether loss aversion explained this bias. A total of 508 healthy participants (ages 21-82) completed measures of loss aversion and skew preference. Age was not related to loss aversion. Although loss aversion was a significant predictor of gamble acceptance, it did not influence the age-related positive-skew bias. (PsycINFO Database Record

Source: Psychology and Aging

DOI: 10.1037/pag0000261

Authors: Kendra L. Seaman, Mikella A. Green, Stephen Shu, Gregory R. Samanez-Larkin

Institutions: City, University of London, Duke University

Language: English

Topic: Decision-Making and Behavioral Economics

Subfield: General Decision Sciences

Field: Decision Sciences

Domain: Social Sciences

Open Access status: hybrid

Funder: National Institute on Aging

Awards: G6853407024, Neuromodulation of Motivated Cognition and Decision Making Across Adulthood, Behavior and Physiology in Aging