Please use this identifier to cite or link to this item: https://doi.org/10.3389/fnagi.2015.00120
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dc.titleAging and wisdom: Age-related changes in economic and social decision making
dc.contributor.authorLim, K.T.K
dc.contributor.authorYu, R
dc.date.accessioned2020-09-04T02:11:23Z
dc.date.available2020-09-04T02:11:23Z
dc.date.issued2015
dc.identifier.citationLim, K.T.K, Yu, R (2015). Aging and wisdom: Age-related changes in economic and social decision making. Frontiers in Aging Neuroscience 7 (JUN) : 120. ScholarBank@NUS Repository. https://doi.org/10.3389/fnagi.2015.00120
dc.identifier.issn16634365
dc.identifier.urihttps://scholarbank.nus.edu.sg/handle/10635/174292
dc.description.abstractWorld life expectancy is increasing and many populations will begin to age rapidly. The impeding prevalence of a greater number of older people living longer lives will have significant social and economic implications. It is important to understand how older people make economic and social decisions. Aging can be associated with a "phenomenon of decline" and also greater wisdom. This paper seeks to examine the relationship between wisdom and aging. It reviews and connects the behavioral sciences and neuroscience literature on age differences in the following social and economic decision making domains that represent subcomponents of wisdom: (1) prosocial behavior in experimental economic games and competitive situations; (2) resolving social conflicts; (3) emotional homeostasis; (4) self-reflection; (5) dealing effectively with uncertainty in the domains of risk, ambiguity and intertemporal choice. Overall, we find a lack of research into how older people make economic and social decisions. There is, however, some evidence that older adults outperform young adults on certain subcomponents of wisdom, but the exact relationship between old age and each subcomponent remains unclear. A better understanding of these relationships holds the potential to alleviate a wide range of mental health problems, and has broad implications for social policies aimed at the elderly. © 2015 Lim and Yu.
dc.publisherFrontiers Research Foundation
dc.sourceUnpaywall 20200831
dc.subjectage distribution
dc.subjectaging
dc.subjectaltruism
dc.subjectaversion
dc.subjectcompetitive behavior
dc.subjectconflict
dc.subjectconfusion (uncertainty)
dc.subjectdecision making
dc.subjecteconomic aspect
dc.subjectemotion
dc.subjectemotionality
dc.subjectgame
dc.subjecthuman
dc.subjectlife expectancy
dc.subjectlongevity
dc.subjectmotivation
dc.subjectprevalence
dc.subjectproblem solving
dc.subjectpsychological wellbeing assessment
dc.subjectReview
dc.subjectrisk factor
dc.subjectself concept
dc.subjectsocial behavior
dc.subjectsocialization
dc.subjecttrust
dc.typeReview
dc.contributor.departmentDEPT OF PSYCHOLOGY
dc.description.doi10.3389/fnagi.2015.00120
dc.description.sourcetitleFrontiers in Aging Neuroscience
dc.description.volume7
dc.description.issueJUN
dc.description.page120
dc.published.statePublished
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