Decisions large and small play a fundamental role in shaping life course trajectories of health and well-being: decisions draw upon an individual's capacity for self-regulation and self-control, their ability to keep long-term goals in mind, and their willingness to place appropriate value on their future well-being. Aging and Decision Making addresses the specific cognitive and affective processes that account for age-related changes in decision making, targeting interventions to compensate for vulnerabilities and leverage strengths in the aging individual. This book focuses on four dominant approaches that characterize the current state of decision-making science and aging - neuroscience, behavioral mechanisms, competence models, and applied perspectives. Underscoring that choice is a ubiquitous component of everyday functioning, Aging and Decision Making examines the implications of how we invest our limited social, temporal, psychological, financial, and physical resources, and lays essential groundwork for the design of decision supportive interventions for adaptive aging that take into account individual capacities and context variables. - Divided into four dominant approaches that characterize the current state of decision-making science and aging neuroscience - Explores the impact of aging on the linkages between cortical structures/functions and the behavioral indices of decision-making - Examines the themes associated with behavioral approaches that attempt integrations of methods, models, and theories of general decision-making with those derived from the study of aging - Details the changes in underlying competencies in later life and the two prevailing themes that have emerged—one, the general individual differences perspective, and two, a more clinical focus

Possible new breakthroughs in understanding the aging mind that can be used to benefit older people are now emerging from research. This volume identifies the key scientific advances and the opportunities they bring. For example, science has learned that among older adults who do not suffer from Alzheimer's disease or other dementias, cognitive decline may depend less on loss of brain cells than on changes in the health of neurons and neural networks. Research on the processes that maintain neural health shows promise of revealing new ways to promote cognitive functioning in older people. Research is also showing how cognitive functioning depends on the conjunction of biology and culture. The ways older people adapt to changes in their nervous systems, and perhaps the changes themselves, are shaped by past life experiences, present living situations, changing motives, cultural expectations, and emerging technology, as well as by their physical health status and sensory-motor capabilities. Improved understanding of how physical and contextual factors interact can help explain why some cognitive functions are impaired in aging while others are spared and why cognitive capability is impaired in some older adults and spared in others. On the basis of these exciting findings, the report makes specific recommends that the U.S. government support three major new initiatives as the next steps for research.

For most Americans, staying "mentally sharp" as they age is a very high priority. Declines in memory and decision-making abilities may trigger fears of Alzheimer's disease or other neurodegenerative diseases. However, cognitive aging is a natural process that can have both positive and negative effects on cognitive function in older adults - effects that vary widely among individuals. At this point in time, when the older population is rapidly growing in the United States and across the globe, it is important to examine what is known about cognitive aging and to identify and promote actions that individuals, organizations, communities, and society can take to help older adults maintain and improve their cognitive health. Cognitive Aging assesses the public health dimensions of cognitive aging with an emphasis on definitions and terminology, epidemiology and surveillance, prevention and intervention, education of health professionals, and public awareness and education. This report makes specific recommendations for individuals to reduce the risks of cognitive decline with aging. Aging is inevitable, but there are actions that can be taken by individuals, families, communities, and society that may help to prevent or ameliorate the impact of aging on the brain, understand more about its impact, and help older adults live more fully and independent lives. Cognitive aging is not just an individual or a family or a health care system challenge. It is an issue that affects the fabric of society and requires actions by many and varied stakeholders. Cognitive Aging offers clear steps that individuals, families, communities, health care providers and systems, financial organizations, community groups, public health agencies, and others can take to promote cognitive health and to help older adults live fuller and more independent lives. Ultimately, this report calls for a societal commitment to cognitive aging as a public health issue that requires prompt action across many sectors.

By 2030 there will be about 70 million people in the United States who are older than 64. Approximately 26 percent of these will be racial and ethnic minorities. Overall, the older population will be more diverse and better educated than their earlier cohorts. The range of late-life outcomes is very dramatic with old age being a significantly different experience for financially secure and well-educated people than for poor and uneducated people. The early mission of behavioral science research focused on identifying problems of older adults, such as isolation, caregiving, and dementia. Today, the field of gerontology is more interdisciplinary. When I'm 64 examines how individual and social behavior play a role in understanding diverse outcomes in old age. It also explores the implications of an aging workforce on the economy. The book recommends that the National Institute on Aging focus its research support in social, personality, and life-span psychology in four areas: motivation and behavioral change; socioemotional influences on decision-making; the influence of social engagement on cognition; and the effects of stereotypes on self and others. When I'm 64 is a useful resource for policymakers, researchers and medical professionals.

A comprehensive overview of contemporary economic psychology Economic Psychology presents an accessible overview of contemporary economic psychology. The science of economic mental life and behavior is increasingly relevant as people are expected to take more responsibility for their household and personal economic decisions. The text will, in addition to reviewing current knowledge on each topic presented, consider the practical and policy implications for supporting economic decision making. Economic Psychology examines the central aspects of adult decision making in everyday life and includes the theories of economic decision making based on risk, value and affect, and theories of intertemporal choice. The text reviews the nature and behavioral consequences of economic mental representations about such things as material possessions, money and the economy. The editor Robert Ranyard—a noted expert on economic psychology—presents a life-span developmental approach, from childhood to old age. He also reviews the important societal issues such as charitable giving and economic sustainability. This vital resource: Reviews the economic psychology in everyday life including financial behaviour such as saving and tax-paying and matters such as entrepreneurial activity Offers an introduction to the field and traces the emergence of the discipline, from Adam Smith to George Katona and Herbert Simon Includes information on societal issues such as charitable giving and pro-environmental behaviour Considers broader perspectives on economic psychology: life-span psychological development from childhood to old age Written for students of psychology, Economic Psychology reviews the most important information on contemporary economic psychology with a focus on individual and household economic decision making, ranging widely across financial matters such as borrowing and saving, and economic activities such as buying, trading, and working.

The Handbook of the Psychology of Aging, Seventh Edition, provides a basic reference source on the behavioral processes of aging for researchers, graduate students, and professionals. It also provides perspectives on the behavioral science of aging for researchers and professionals from other disciplines. The book is organized into four parts. Part 1 reviews key methodological and analytical issues in aging research. It examines some of the major historical influences that might provide explanatory mechanisms for a better understanding of cohort and period differences in psychological aging processes. Part 2 includes chapters that discuss the basics and nuances of executive function; the history of the morphometric research on normal brain aging; and the neural changes that occur in the brain with aging. Part 3 deals with the social and health aspects of aging. It covers the beliefs that individuals have about how much they can control various outcomes in their life; the impact of stress on health and aging; and the interrelationships between health disparities, social class, and aging. Part 4 discusses the emotional aspects of aging; family caregiving; and mental disorders and legal capacities in older adults. - Contains all the main areas of psychological gerontological research in one volume - Entire section on neuroscience and aging - Begins with a section on theory and methods - Edited by one of the father of gerontology (Schaie) and contributors represent top scholars in gerontology

Master's Thesis from the year 2019 in the subject Business economics - Miscellaneous, grade: 2.0, University of Münster, language: English, abstract: The world population gets older as life expectancy increases. The popula-tion of people over the age of 60 is expected to be over two billion in 2050 (cf. United Nations, 2017, pp. 13-14). Older adults (OA) still face decisions, which might be even more significant or complex than decisions of young-er adolescents. For example, the average age of C-suite members in Ameri-can firms is 54 (cf. Korn Ferry, 2007). On a more individual level, the pop-ulation aged 55 and higher has a significantly higher mean net worth than the younger population (cf. Bricker et al., 2017, p. 13). Especially, if one accounts for the fact that research has shown that declines in cognitive functioning are seen before the age of 50 (cf. Salthouse, 2004, p. 141), re-search on aging and decision making (DM) is of high importance. In recent years numerous papers on this topic were published. This thesis helps existing literature by creating a literature overview to summarize current findings. Because of the reasons above, this thesis concentrates on age-related differences between young and OA, but does not analyze re-search about DM in childhood. It adds to current literature by being the first work with an extensive overview of age-related changes in the respective analyzed biases with a short subsequent view on financial DM. The thesis deals with the research question, whether biases of DM literature differ between younger and OA. To answer this question, I examine differ-ences in typical DM biases. The chosen biases are the ones being investi-gated the most thoroughly in existing literature on aging and DM and wherever possible or necessary I will focus on DM in economic contexts. The remainder of this paper is organized as follows: section two gives a short overview about the foundations of DM. After examining age-related effects on processes, which underly DM, in chapter three, the fourth chapter deals with age-related differences in DM. Afterwards, I shine a light on potential implications resulting from respective age differences. Chapter six concludes.

Family caregiving affects millions of Americans every day, in all walks of life. At least 17.7 million individuals in the United States are caregivers of an older adult with a health or functional limitation. The nation's family caregivers provide the lion's share of long-term care for our older adult population. They are also central to older adults' access to and receipt of health care and community-based social services. Yet the need to recognize and support caregivers is among the least appreciated challenges facing the aging U.S. population. Families Caring for an Aging America examines the prevalence and nature of family caregiving of older adults and the available evidence on the effectiveness of programs, supports, and other interventions designed to support family caregivers. This report also assesses and recommends policies to address the needs of family caregivers and to minimize the barriers that they encounter in trying to meet the needs of older adults.

Part of the Wiley Series in Clinical Geropsychology, Changes in Decision-Making Capacity in Older Adults: Assessment and Intervention helps to familiarize you with the legal and social contexts for decision making in potentially impaired individuals. Editors Sara Qualls and Michael Smyer have brought together a notable team of international contributors to provide you with a unique framework of the legal, social, and psychological approaches to assessing the ability of older adults to make decisions.

This book reviews the latest research from psychology, neuroscience, and behavioral economics evaluating how people make financial choices in real-life circumstances. The volume is divided into three sections investigating financial decision making at the level of the brain, the level of an individual decision maker, and the level of the society, concluding with a discussion of the implications for further research. Among the topics discussed: Neural and hormonal bases of financial decision making Personality, cognitive abilities, emotions, and financial decisions Aging and financial decision making Coping methods for making financial choices under uncertainty Stock market crashes and market bubbles Psychological perspectives on borrowing, paying taxes, gambling, and charitable giving Psychological Perspectives on Financial Decision Making is a useful reference for researchers both in and outside of psychology, including decision-making experts, consumer psychologists, and behavioral economists.