Age Affects Decision Making Under Uncertainty

Behavioral Evidence In an aging society, the extent to which aging affects financial decision making becomes increasingly important to understand. We (Carsten Diener, Chrsitian Fiebach, Christiane Schwieren, Gil Sharvit and I) investigated decision making under uncertainty and how it is affected by age in two separate studies. Uncertain decisions are defined as choices with some[…]

Testing Social Production Functions with Incentives

Background [This experiment has been published in the Journal of the Economics of Ageing. Our working paper and an earlier discussion paper.] The “aging employee” has recently become a hot topic in many fields of behavioural research. With the aim to determine the effects of different incentive schemes (piece rate, competition, choice between piece rate[…]

The Effects of Aging on Decision Making

A Selective Literature Overview With a growing part of the population getting older, the potential demands of older adults put increasing strain on already-limited resources. It is therefore of crucial importance to understand the effects of aging on the maintenance of independence, with the target to facilitate and improve independent functioning. In this regard, decision[…]