Development and aging of decision-making rationality under risk framework

Abstract

Background Humans often display irrational choice and decision-making due to the frame effect. However, it is unclear whether this irrational choice and decision-making will increase during the aging process. Methods The present research explored development and aging of risky-seeking and rational decision-making with 232 younger adults and 120 older adults. The experiment was a 2 (Age:younger adult and old adult) × 2 (Frame: positive and negative) × 2 (Relevance: lower level and higher level), with the risky probability as a control variable and the decision-making scores as dependent variables. Results The results revealed that older adults demonstrated much more irrational decision-making (framing effect). In the detail, the risky decision-making score of the older adults in the positive framing was 5.13 ± 2.12, and 6.55 ± 1.05 in the negative framing [F (1, 118) = 21.470, P = 0.000; η2 = 0.156], while the risky decision-making score of the younger adults in the positive framing was 3.18 ± 2.49, and 5.00 ± 2.41 in the negative framing [F (1, 230) = 31.260, P = 0.000; η 2 = 0.121]. Meanwhile, the older adults showed risk seeking for the life-death scenario [F (1, 350) = 4.820, P = 0.029]. Conclusions These results suggested that the hypofunction in orbital and medial prefrontal cortex and amygdale in older adults might be the underlying mechanisms. Furthermore, the susceptibility to expected value (EV) of the older adults might decrease although their scores in risky probability understanding were not significantly different from the younger adults. doi: 10.3969/j.issn.1672-6731.2014.03.008

Keywords

• Risk adjustment
• Decision making
• Aging