Framing matters: Effects of framing on older adults' exploratory decision-making

Differential impacts of healthy cognitive aging on directed and random exploration

Deciding whether to explore unknown opportunities or exploit well-known options is a ubiquitous part of our everyday lives. Extensive work in college students suggests that young people make explore-exploit decisions using a mixture of information seeking and random behavioral variability. Whether, and to what extent, older adults use the same strategies is unknown. To address this question, 51 older adults (ages 65-74) and 32 younger adults (ages 18-25) completed the Horizon Task, a gambling task that quantifies information seeking and behavioral variability as well as how these strategies are controlled for the purposes of exploration. Qualitatively, we found that older adults performed similar to younger adults on this task, increasing both their information seeking and behavioral variability when it was adaptive to explore. Quantitively, however, there were substantial differences between the age groups, with older adults showing less information seeking overall and less reliance on variability as a means to explore. In addition, we found a subset of approximately 26% of older adults whose information seeking was close to zero, avoiding informative options even when they were clearly the better choice. Unsurprisingly, these "information avoiders" performed worse on the task. In contrast, task performance in the remaining "information seeking" older adults was comparable to that of younger adults suggesting that age-related differences in explore-exploit decision making may be adaptive except when they are taken to extremes. (PsycInfo Database Record (c) 2024 APA, all rights reserved).

The relationship between sense of community and general well-being of Chinese older adults: A moderated mediation model

As China becomes an aging society, the impacts of the aging population on the social meso domain, namely, the community level, have received increasing attention in recent years. However, relevant studies are limited. With the assumption that regular community participation positively influences well-being, this study investigated the mediating role of community participation between the sense of community and the general well-being of Chinese older adults and the moderating role of social support. A questionnaire survey was conducted with a valid sample size of 566 participants aged 60 and above in the urban communities of Chongqing, Chengdu, and Zunyi in southwest China. Moderated mediation models were constructed to explore factors related to the well-being of older adults, finding that encouraging community participation can improve the general well-being of older adults and build a better society in Chinese cities. The main findings of this study are as follows: (1) a sense of community significantly and positively relates to community participation and general well-being; (2) community participation partially mediates the relationship between sense of community and general well-being; and (3) each pathway through which sense of community influences older adults' general well-being is moderated by social support.

How Cues of Being Watched Promote Risk Seeking in Fund Investment in Older Adults

Social cues, such as being watched, can subtly alter fund investment choices. This study aimed to investigate how cues of being watched influence decision-making, attention allocation, and risk tendencies. Using decision scenarios adopted from the “Asian Disease Problem,” we examined participants’ risk tendency in a financial scenario when they were watched. A total of 63 older and 66 younger adults participated. Eye tracking was used to reveal the decision-maker’s attention allocation (fixations and dwell time per word). The results found that both younger and older adults tend to seek risk in the loss frame than in the gain frame (i.e., framing effect). Watching eyes tended to escalate reckless gambling behaviors among older adults, which led them to maintain their share in the depressed fund market, regardless of whether the options were gain or loss framed. The eye-tracking results revealed that older adults gave less attention to the sure option in the eye condition (i.e., fewer fixations and shorter dwell time). However, their attention was maintained on the gamble options. In comparison, images of “watching eyes” did not influence the risk seeking of younger adults but decreased their framing effect. Being watched can affect financial risk preference in decision-making. The exploration of the contextual sensitivity of being watched provides us with insight into developing decision aids to promote rational financial decision-making, such as human-robot interactions. Future research on age differences still requires further replication.

Learning the value of information and reward over time when solving exploration-exploitation problems

To flexibly adapt to the demands of their environment, animals are constantly exposed to the conflict resulting from having to choose between predictably rewarding familiar options (exploitation) and risky novel options, the value of which essentially consists of obtaining new information about the space of possible rewards (exploration). Despite extensive research, the mechanisms that subtend the manner in which animals solve this exploitation-exploration dilemma are still poorly understood. Here, we investigate human decision-making in a gambling task in which the informational value of each trial and the reward potential were separately manipulated. To better characterize the mechanisms that underlined the observed behavioural choices, we introduce a computational model that augments the standard reward-based reinforcement learning formulation by associating a value to information. We find that both reward and information gained during learning influence the balance between exploitation and exploration, and that this influence was dependent on the reward context. Our results shed light on the mechanisms that underpin decision-making under uncertainty, and suggest new approaches for investigating the exploration-exploitation dilemma throughout the animal kingdom.