Consistency in simple vs. complex choices by younger and older adults

B-Tier
Journal: Journal of Economic Behavior and Organization
Year: 2019
Volume: 157
Issue: C
Pages: 580-601

Authors (4)

Score contribution per author:

0.503 = (α=2.01 / 4 authors) × 1.0x B-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

Employing a variant of GARP, we study consistency in aging by comparing the choices of younger adults (YA) and older adults (OA) in a “simple”, two-good and a “complex” three-good condition. We find that OA perform worse than YA in the complex condition but similar to YA in the simple condition, both in terms of the number and severity of GARP violations. Working memory and IQ scores correlate significantly with consistency levels, but only in the complex treatment. Our findings suggest that the age-related deterioration of neural faculties responsible for working memory and fluid intelligence is an obstacle for consistent decision-making.

Technical Details

RePEc Handle
repec:eee:jeborg:v:157:y:2019:i:c:p:580-601
Journal Field
Theory
Author Count
4
Added to Database
2026-01-25