Age Differences in Complex Decision Making and Judgment

2021 ◽  
pp. 203-233
Author(s):  
Klara Rydzewska ◽  
Maciej Koscielniak ◽  
Bettina von Helversen ◽  
Grzegorz Sedek
Keyword(s):  
Older Adults ◽  
Decision Making ◽  
Individual Differences ◽  
Age Differences ◽  
Motivational Factors ◽  
Age Related ◽  
Complex Decision Making ◽  
Complex Decision ◽  
And Performance

This chapter discusses age differences in complex decision making and judgment, particularly the role of motivational factors and individual differences. Literature on the influence of age-related changes in cognition and motivation on search and performance in complex decision making is reviewed. The role of financial incentives, need for cognition, and need for cognitive closure is discussed, including the age-related influence of motivational factors on the performance of sequential decision-making tasks. Additionally, the role of feedback as a factor producing superior performance of older adults in a decision-making task is introduced. Moreover, novel research findings regarding connections between intellectual helplessness and information and communication technologies in older adults are presented. Lastly, individual differences in numeracy and intellectual helplessness in mathematics as predictors of age-related differences in performance of multiattribute tasks are described.

scholarly journals The Orbitofrontal Cortex Represents Advantageous Choice in the Iowa Gambling Task

2021 ◽  
Author(s):  
Rujing Zha ◽  
Peng Li ◽  
Ying Li ◽  
Nan Li ◽  
Meijun Gao ◽  
...  
Keyword(s):  
Decision Making ◽  
Orbitofrontal Cortex ◽  
Iowa Gambling Task ◽  
Real Life ◽  
Binary Choice ◽  
Learning Tools ◽  
Gambling Task ◽  
Complex Decision Making ◽  
Complex Decision

Abstract A good-based model proposes that the orbitofrontal cortex (OFC) represents binary choice outcome, i.e., the chosen good. Previous studies have found that the OFC represents the binary choice outcome in decision-making tasks involving commodity type, cost, risk, and delay. Real-life decisions are often complex and involve uncertainty, rewards, and penalties; however, whether the OFC represents binary choice outcomes in a such decision-making situation, e.g., Iowa gambling task (IGT), remains unclear. Here, we propose that the OFC represents binary choice outcome, i.e., advantageous choice versus disadvantageous choice, in the IGT. We propose two hypotheses: first, the activity pattern in the human OFC represents an advantageous choice; and second, choice induces an OFC-related functional network. Using functional magnetic resonance imaging and advanced machine learning tools, we found that the OFC represented an advantageous choice in the IGT. The OFC representation of advantageous choice was related to decision-making performance. Choice modulated the functional connectivity between the OFC and the superior medial gyrus. In conclusion, the OFC represents an advantageous choice during the IGT. In the framework of a good-based model, the results extend the role of the OFC to complex decision-making when making a binary choice.

scholarly journals Role of automatic, conscious, and unconscious thought processes in complex decision making

1970 ◽  
Vol 14 (1) ◽  
pp. 33-52
Author(s):  
Draženka Levačić ◽  
Mario Pandžić ◽  
Dragan Glavaš
Keyword(s):  
Decision Making ◽  
Careful Examination ◽  
Automatic Processes ◽  
Thought Processes ◽  
Unconscious Thought ◽  
Conscious Thought ◽  
Complex Decision Making ◽  
Complex Decision

A complex decision is any decision which includes choosing among options with numerous describing attributes. Certain decisions are fast, often guided with automatic processes of thought, while other decisions are made much slower with careful examination of all the factors. These processes can have a significant impact on the quality of decision making. The aim of this research was to investigate the effect of automatic, conscious and unconscious thought processes in the context of decision making. Participants were psychology students aged between 19 to 28 years. First experiment investigated the role of three different thought processes on choosing a subjectively best option, as well as TTB heuristic option. The second experiment investigated metacognitive aspects of decision making, precisely, to determine the differences in feeling of rightness (FOR) as well as the tendency to change the decision, depending on the activated thought processes. Different thought processes determined the choice of the subjectively best option. In the conscious thought condition, participants chose the subjectively best option more often than in the automatic or unconscious thought condition. However, there was no difference between conditions in choosing the TTB heuristic option. The feeling of rightness was significantly higher in conscious thought condition than in automatic or unconscious thought condition, but the two latter conditions did not differ in the judgment of feeling of rightness nor did they differ in the tendency to change the decision.

scholarly journals Decision-Making Competence: More Than Intelligence?

2020 ◽  
Vol 29 (2) ◽  
pp. 186-192 ◽  
Author(s):  
Wändi Bruine de Bruin ◽  
Andrew M. Parker ◽  
Baruch Fischhoff
Keyword(s):  
Older Adults ◽  
Decision Making ◽  
Individual Differences ◽  
Fluid Intelligence ◽  
Psychological Research ◽  
Future Research ◽  
Experimental Conditions ◽  
Crystallized Intelligence ◽  
Age Related ◽  
Development And Validation

Decision-making competence refers to the ability to make better decisions, as defined by decision-making principles posited by models of rational choice. Historically, psychological research on decision-making has examined how well people follow these principles under carefully manipulated experimental conditions. When individual differences received attention, researchers often assumed that individuals with higher fluid intelligence would perform better. Here, we describe the development and validation of individual-differences measures of decision-making competence. Emerging findings suggest that decision-making competence may tap not only into fluid intelligence but also into motivation, emotion regulation, and experience (or crystallized intelligence). Although fluid intelligence tends to decline with age, older adults may be able to maintain decision-making competence by leveraging age-related improvements in these other skills. We discuss implications for interventions and future research.

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