Washington, Sep 25: Older people's experience and acquired knowledge from a lifetime of decision making helps them make better decisions regarding financials.
Ye Li, the Uc Riverside assistant professor, and Martine Baldassi, Eric J. Johnson and Elke U. Weber, recruited a group of 336 people - 173 younger (ages 18 to 29) and 163 older (ages 60 to 82) - and asked them a series of questions that measured economic decision making traits.
They also administered a battery of standard fluid and crystallized intelligence tests.
Fluid intelligence is the ability to learn and process information.
Crystallized intelligence refers to experience and accumulated knowledge.
These traits included temporal discounting.
Ye Li, the Uc Riverside assistant professor, and Martine Baldassi, Eric J. Johnson and Elke U. Weber, recruited a group of 336 people - 173 younger (ages 18 to 29) and 163 older (ages 60 to 82) - and asked them a series of questions that measured economic decision making traits.
They also administered a battery of standard fluid and crystallized intelligence tests.
Fluid intelligence is the ability to learn and process information.
Crystallized intelligence refers to experience and accumulated knowledge.
These traits included temporal discounting.
- 9/25/2013
- by Ketali Mehta
- RealBollywood.com
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