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Cognitive Aging and Tests of Rationality.

ABSTRACT: We investigated whether older adults are more likely than younger adults to violate a foundational property of rational decision making, the axiom of transitive preference. Our experiment consisted of two groups, older (ages 60-75; 21 participants) and younger (ages 18-30; 20 participants) adults. We used Bayesian model selection to investigate whether individuals were better described via (transitive) weak order-based decision strategies or (possibly intransitive) lexicographic semiorder decision strategies. We found weak evidence for the hypothesis that older adults violate transitivity at a higher rate than younger adults. At the same time, a hierarchical Bayesian analysis suggests that, in this study, the distribution of decision strategies across individuals is similar for both older and younger adults.

SUBMITTER: Park S

PROVIDER: S-EPMC6994187 | biostudies-literature | 2019 Dec

REPOSITORIES: biostudies-literature

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Cognitive Aging and Tests of Rationality.

Park Sanghyuk S Davis-Stober Clintin P CP Snyder Hope K HK Messner William W Regenwetter Michel M

The Spanish journal of psychology 20191223

We investigated whether older adults are more likely than younger adults to violate a foundational property of rational decision making, the axiom of transitive preference. Our experiment consisted of two groups, older (ages 60-75; 21 participants) and younger (ages 18-30; 20 participants) adults. We used Bayesian model selection to investigate whether individuals were better described via (transitive) weak order-based decision strategies or (possibly intransitive) lexicographic semiorder decisi ...[more]

PMID: 31868154

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