This content will become publicly available on July 6, 2024
- Award ID(s):
- NSF-PAR ID:
- Date Published:
- Journal Name:
- Experimental Aging Research
- Page Range / eLocation ID:
- 1 to 16
- Medium: X
- Sponsoring Org:
- National Science Foundation
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Abstract Changing how an issue is framed can influence both decision-making and metacognition, but framing a memory task in terms of gains and losses could also impact how learners prioritize information according to its value or importance. We investigated how framing task instructions and feedback in terms of gains and losses influences learners’ ability to selectively remember valuable information at the expense of low-value information. Specifically, we presented learners with to-be-remembered words paired with point values and either told participants how many points they scored (the sum of the values of recalled words) or lost (the sum of the values of not-recalled words) on each list, with participants’ goal being to maximize their scores or minimize their losses, respectively. Overall, participants were more selective for high-value words when their goals were framed in terms of point gains compared with when their goals were framed in terms of losses, and learners’ metacognitive predictions of performance (JOLs) generally mapped onto this trend. Thus, framing in terms of losses for forgetting can reduce memory selectivity, perhaps because even small losses are salient, indicating that framing effects are not limited to decision-making but can influence memory and metacognitive processes as well.more » « less
This research addresses how younger and older adults’ decisions and evaluations of gains and losses are affected by the way in which monetary incentives are provided. We compared 2 common incentive schemes in decision making: pay one (only a single decision is incentivized) and pay all (incentives across all decisions are accumulated).
Younger adults (18–36 years; n = 147) and older adults (60–89 years; n = 139) participated in either a pay-one or pay-all condition and made binary choices between two-outcome monetary lotteries in gain, loss, and mixed domains. We analyzed participants’ decision quality, risk taking, and psychometric test scores. Computational modeling of cumulative prospect theory served to measure sensitivity to outcomes and probabilities, loss aversion, and choice sensitivity.
Decision quality and risk aversion were higher in the gain than mixed or loss domain, but unaffected by age. Loss aversion was higher, and choice sensitivity was lower in older than younger adults. In the pay-one condition, the value functions were more strongly curved, and choice sensitivity was higher than in the pay-all condition.
An opportunity of accumulating incentives has similar portfolio effects on younger and older adults’ decisions. In general, people appear to decide less cautiously in pay-all than pay-one scenarios. The impact of different incentive schemes should be carefully considered in aging and decision research.
Sleep loss has been shown to alter risk preference during decision-making. However, research in this area has largely focussed on the effects of total sleep deprivation (TSD), while evidence on the effects of sleep restriction (SR) or the potentially moderating role of sex on risk preference remains scarce and unclear. The present study investigated risky decision-making in 47 healthy young adults who were assigned to either of two counterbalanced protocols: well-rested (WR) and TSD, or WR and SR. Participants were assessed on the Lottery Choice Task (LCT), which requires a series of choices between two risky gambles with varying risk levels. Analyses on the pooled dataset indicated across all sleep conditions, participants were generally more risk-seeking when trying to minimise financial loss (LOSSES) than while trying to maximise financial gain (GAINS). On GAINS trials, female participants were more risk-averse during TSD and SR, whereas male participants remained unchanged. On LOSSES trials, female participants remained unchanged during TSD and SR, whereas male participants became more risk-seeking during TSD. Our findings suggest the relationship between sleep loss and risk preference is moderated by sex, whereby changes in risk preference after TSD or SR differ in men and women depending on whether the decision is framed in terms of gains or losses.
Fernandes, Thiago P. (Ed.)Individuals typically prefer the freedom to make their own decisions. Yet, people often trade their own decision control (procedural utility) to gain economic security (outcome utility). Decision science has not reconciled these observations. We examined how decision-makers’ efficacy and security perceptions influence when, why, and how individuals exchange procedural and outcome utility. Undergraduate adults ( N = 77; M age = 19.45 years; 73% female; 62% Caucasian, 13% African American) were recruited from the psychology participant pool at a midwestern U.S. metropolitan university. Participants made financial decisions in easy and hard versions of a paid card task resembling a standard gambling task, with a learning component. During half the trials, they made decisions with a No-Choice Manager who controlled their decisions, versus a Choice Manager who granted decision control. The hard task was designed to be too difficult for most participants, undermining their efficacy and security, and ensuring financial losses. The No-Choice Manager was designed to perform moderately well, ensuring financial gains. Participants felt greater outcome satisfaction (utility) for financial gains earned via Choice, but not losses. Participants (85%) preferred the Choice manager in the easy task but preferred the No-Choice Manager (56%) in the hard task. This change in preference for choice corresponded with self-efficacy and was mediated by perceived security. We used Decision Field Theory to develop potential cognitive models of these decisions. Preferences were best described by a model that assumed decision-makers initially prefer Choice, but update their preference based on loss-dependent attentional focus. When they earned losses (hard task), decision-makers focused more on economic payoffs (financial security), causing them to deemphasize procedural utility. Losses competed for attention, pulling attention toward economic survivability and away from the inherent value of choice. Decision-makers are more likely to sacrifice freedom of choice to leaders they perceive as efficacious to alleviate perceived threats to economic security.more » « less
The current scoping review identified emerging evidence on social connectedness resource preferences of older adults in assisted living facilities (ALFs) and the community. A literature search was performed using several databases. We included review articles published between January 2000 and September 2022 in English and related to social connectedness resources in ALFs and the community. Of 134 titles and abstracts, eight studies were included. Study participants comprised 2,482 older adults from 233 ALFs in the United States. Themes were framed using the World Health Organization's International Classification of Functioning, Disability, and Health. For social activities, older adults preferred facility-based recreation and leisure resources. For community social connectedness, residents preferred participation in civic life activities. Participants of older age preferred facility resources, whereas those of younger age preferred more demanding physical activities. Those from larger enrollment facilities preferred facility-based resources compared to community resources. For moderately and less active residents, participation was limited to less demanding activities. Older adults' preferences varied based on age, physical limitations, and size and location of the facility. Findings suggest opportunities for further research on developing ALF- and community-based resources for older adults' social well-being and quality of life. [ Journal of Gerontological Nursing, 49 (9), 35–42.]more » « less