Age matters: The effect of regret and loss aversion on cultured meat acceptance

Cultured meat shows great promise as a more sustainable alternative to conventional meat consumption. However, consumer acceptance of cultured meat remains a great challenge as studies indicate a general reluctance to adopt this product. Notably, while existing literature has provided various factors influencing consumer acceptance of cultured meat, there is a limited focus on the use of affective cues. The present research examines the impact of regret appeal on consumers' willingness to try cultured meat. In two experimental studies, the authors investigate (1) the interactive effect between regret and age on willingness to try cultured meat, and (2) the role of loss aversion as a mediating factor between regret and willingness to try cultured meat. The results demonstrate the effectiveness of regret appeal in increasing consumers' willingness to try cultured meat, particularly among older populations. This is because older populations exhibit higher levels of loss aversion. The present study is the first to shed light on the interactive effect of regret and age in influencing sustainable product acceptance. Furthermore, the study establishes the first empirical evidence to demonstrate that loss aversion is a valid self-regulating strategy adopted to cope with the feeling of regret in a consumption context.

Older adults select different but not simpler strategies than younger adults in risky choice

Younger and older adults often differ in their risky choices. Theoretical frameworks on human aging point to various cognitive and motivational factors that might underlie these differences. Using a novel computational model based on the framework of resource rationality, we find that the two age groups rely on different strategies. Importantly, older adults did not use simpler strategies than younger adults, they did not select among fewer strategies, they did not make more errors, and they did not put more weight on cognitive costs. Instead, older adults selected strategies that had different risk propensities than those selected by younger adults. Our modeling approach suggests that age differences in risky choice are not necessarily a consequence of cognitive decline; instead, they may reflect motivational differences between age groups.

Adult age differences in risk perception and risk taking

Research on self-reported risk perception and risk taking suggests age-related decrements in risk preference, with older adults less likely to engage in general and domain-specific risk taking (i.e., in financial, health-related, ethical, career, and leisure contexts). Data relating to social risks, however, are inconsistent. With respect to behavioral risk-taking tasks, age-related differences vary depending on task characteristics and older adults' cognitive capacities. Specifically, older adults are less good at learning to take advantageous risks and take fewer risks when faced with gains, especially financial and mortality-based ones. We contextualize these trends by referencing relevant theoretical frameworks (see Frey et al., 2021 [1]) and by drawing on the COVID-19 pandemic to illustrate recent examples of age-related differences in real-life risk responses.

Adult age differences in value-based decision making

A better understanding of age-related differences in judgment and decision making is important from both theoretical and applied perspectives. In this review, we focus on value-based decisions across adulthood and specifically on how loss aversion (a relatively stronger weight of losses than gains on decisions) and the relative motivational impact of gains and losses may change with aging. In doing so, we will also cover recent findings about the effects of gain or loss incentives on performance in cognitive tasks that involve attention, learning, and remembering. We point out open questions and critical moderating variables for future theorizing and research.

Aging, uncertainty, and decision making-A review

There is a great deal of uncertainty in the world. One common source of uncertainty results from incomplete or missing information about probabilistic outcomes (i.e., outcomes that may occur), which influences how people make decisions. The impact of this type of uncertainty may particularly pronounced for older adults, who, as the primary leaders around the world, make highly impactful decisions with lasting outcomes. This review examines the ways in which uncertainty about probabilistic outcomes is perceived, handled, and represented in the aging brain, with an emphasis on how uncertainty may specifically affect decision making in later life. We describe the role of uncertainty in decision making and aging from four perspectives, including 1) theoretical, 2) self-report, 3) behavioral, and 4) neuroscientific. We report evidence of any age-related differences in uncertainty among these contexts and describe how these changes may affect decision making. We then integrate the findings across the distinct perspectives, followed by a discussion of important future directions for research on aging and uncertainty, including prospection, domain-specificity in risk-taking behaviors, and choice overload.

Emotion, Aging, and Decision Making: A State of the Art Mini-Review

Over the past few decades, interest has begun to surge in understanding the role of emotion in decision making, and more recently in studies across the adult life span. Relevant to age-related changes in decision making, theoretical perspectives in judgment and decision making draw critical distinctions between deliberative versus intuitive/affective processes, as well as integral versus incidental affect. Empirical findings demonstrate the central role of affect in various decision-related domains such as framing and risk taking. To situate this review within an adult life-span context, we focus on theoretical perspectives in adult development regarding emotion and motivation. As a result of age differences in deliberative and emotional processes, taking a life-span perspective is critical to advance a comprehensive and grounded understanding of the role of affect in decision making. Age-related shifts in information processing from negative toward positive material also have consequential implications. By taking a life-span perspective, not only will decision theorists and researchers benefit, but so too will practitioners who encounter individuals of various ages as they make consequential decisions.

Pay One or Pay All? The Role of Incentive Schemes in Decision Making Across Adulthood

OBJECTIVES

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).

METHOD

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.

RESULTS

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.

DISCUSSION

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.

Positive and negative risk-taking: Age patterns and relations to domain-specific risk-taking

People take risks at all ages to achieve certain goals. Although these goals may be achieved through negative risks (e.g., adolescent drinking to impress their friends), people also take positive risks. Positive risks are theorized to help individuals achieve goals in developmentally appropriate and socially acceptable ways, such as initiating a new friendship as an adolescent, applying for a promotion as a young adult, or exploring a new hobby as a retiree. To test the hypothesis that people endorse different patterns of risk-taking across life, we examined age patterns in positive and negative risk-taking with a sample of individuals ranging in age from 12 to 71 years. In adults aged 19-71, we also examined to what extent positive and negative risk-taking are associated with domain-specific risk-taking and risk-taking propensity. Results indicated that positive risk-taking varied with age in the form of an inverted-U shape and peaked in middle adulthood. Negative antisocial risk-taking varied with age in the form of a U shape and was highest in adolescence. Negative health risk-taking varied with age in the form of an inverted-U shape and peaked in middle adulthood. In adults, greater positive risk-taking was associated with greater risk-taking in the social domain and greater risk-taking propensity. Greater negative risk-taking was associated with greater risk-taking in ethical and health/safety domains, and with greater risk-taking propensity. Altogether, this study is the first to demonstrate age patterns in positive and negative risk-taking across adolescence and adulthood. It also contributes to the validity of positive risk-taking as a construct distinct from negative risk-taking.

On the semantic representation of risk

What are the defining features of lay people's semantic representation of risk? We contribute to mapping the semantics of risk based on word associations to provide insight into both universal and individual differences in the representation of risk. Specifically, we introduce a mini-snowball word association paradigm and use the tools of network and sentiment analysis to characterize the semantics of risk. We find that association-based representations not only corroborate but also extend those extracted from past survey- and text-based approaches. Crucially, we find that the semantics of risk show universal properties and individual and group differences. Most notably, while semantic clusters generalize across languages, their frequency varies systematically across demographic groups, with older and female respondents showing more negative connotations and mentioning more often certain types of activities (e.g., recreational activities) relative to younger adults and males, respectively. Our work has general implications for the measurement of risk-related constructs by suggesting that "risk" can mean different things to different individuals.

Age and Framing Effects in the Balloon Analogue Risk Task (BART)

OBJECTIVES

Prior research has documented age differences in risky decisions and indicates that they are susceptible to gain versus loss framing. However, previous studies focused on 'decisions from description' that explicitly spell out the probabilities involved. The present study expands this literature by examining the effects of framing on age differences in the Balloon Analogue Risk Task (BART), a widely used and ecologically valid measure of experience-based risky decision-making that involves pumping a virtual balloon.

METHOD

In a pre-registered study, younger (aged 18-30, n =129) and older adults (aged 60 and over, n=125) were randomly assigned to either a gain version of the BART, where pumping the balloon added monetary gains, or a loss version, where pumping the balloon avoided monetary losses.

RESULTS

We found a significant age by frame interaction on risk-taking: in the loss frame, older adults pumped more frequently and experienced more popped balloons than younger adults, whereas in the gain frame no significant age differences were found. Total performance on the BART did not vary by age or frame. Supplementary analyses indicated that age differences in pumping rates were most pronounced at the beginning of the BART and leveled off in subsequent trials. Controlling for age differences in motivation, personality, and cognition did not account for age differences in risk-taking.

DISCUSSION

In combination, findings suggest that age differences in risk-taking on the BART are more pronounced when the task context emphasizes avoiding losses rather than achieving gains.

Reconciling psychological and neuroscientific accounts of reduced motivation in aging

Motivation is a hallmark of healthy aging, but the motivation to engage in effortful behavior diminishes with increasing age. Most neurobiological accounts of altered motivation in older adults assume that these deficits are caused by a gradual decline in brain tissue, while some psychological theories posit a switch from gain orientation to loss avoidance in motivational goals. Here, we contribute to reconcile the psychological and neural perspectives by providing evidence that the frontopolar cortex (FPC), a brain region involved in cost-benefit weighting, increasingly underpins effort avoidance rather than engagement with age. Using anodal transcranial direct current stimulation together with effort-reward trade-offs, we find that the FPC's function in effort-based decisions remains focused on cost-benefit calculations but appears to switch from reward-seeking to cost avoidance with increasing age. This is further evidenced by the exploratory, independent analysis of structural brain changes, showing that the relationship between the density of the frontopolar neural tissue and the willingness to exert effort differs in young vs older adults. Our results inform aging-related models of decision-making by providing preliminary evidence that, in addition to cortical thinning, changes in goal orientation need to be considered in order to understand alterations in decision-making over the life span.

Subjective Memory Complaints and Decision Making in Young and Older Adults: An Event-Related Potential Study

Subjective memory complaints (SMCs) may affect decision-making processes. This study aimed to investigate the neuronal correlates of feedback processing during a decision-making task in young and older adults with and without SMCs. Event-related potentials and behavioral performance during the Iowa gambling task were recorded in a total of 136 participants (65 young adults, 71 older adults). The participants were divided into two groups according to their SMCs (with SMCs: n = 60, without SMCs: n = 76). Feedback-related negativity (FRN) and P3 were analyzed in the feedback stage of the decision-making process. Older adults with SMCs scored worse in the ambiguity phase than older adults without SMCs. The FRN latency was longer for losses in older people with SMCs than in older people without SMCs in the first block. No significant differences between young and older adults with and without SMCs were observed in the other ERP measures. Compared to young adults, older adults showed delayed latency in the FRN component and reduced amplitudes and delayed latency in the P3 component. In conclusion, older people with SMCs present deficits in the decision-making process. These deficits are observed at the behavioral level, but also in neural mechanisms of early feedback processing of negative outcomes.

Age Influences Loss Aversion Through Effects on Posterior Cingulate Cortical Thickness

Decision-making strategies shift during normal aging and can profoundly affect wellbeing. Although overweighing losses compared to gains, termed "loss aversion," plays an important role in choice selection, the age trajectory of this effect and how it may be influenced by associated changes in brain structure remain unclear. We therefore investigated the relationship between age and loss aversion, and tested for its mediation by cortical thinning in brain regions that are susceptible to age-related declines and are implicated in loss aversion - the insular, orbitofrontal, and anterior and posterior cingulate cortices. Healthy participants (n = 106, 17-54 years) performed the Loss Aversion Task. A subgroup (n = 78) provided structural magnetic resonance imaging scans. Loss aversion followed a curvilinear trajectory, declining in young adulthood and increasing in middle-age, and thinning of the posterior cingulate cortex mediated this trajectory. The findings suggest that beyond a threshold in middle adulthood, atrophy of the posterior cingulate cortex influences loss aversion.

The Appraisal Approach to Aging and Emotion: An Integrative Theoretical Framework

To advance our understanding of how emotional experience changes across the adult life span, we propose an integrative theoretical framework: the appraisal approach to aging and emotion (AAAE). AAAE posits that (a) age-related cognitive, motivational, and physical changes fundamentally change the appraisal system in certain ways, and that (b) older adults often deploy appraisal processes in different ways relative to their younger counterparts. As such, we hypothesize that these age-related changes to the appraisal process underlie the finding that older and younger adults tend to experience different emotions. In this paper we integrate findings from the aging literature with appraisal theory, grounding AAAE in theoretical and empirical work relevant to the relationship between aging and appraisal processes. Using our theoretical framework, it is possible to identify critical points of investigation for aging and emotion researchers to further develop our understanding of the proximal-level determinants of age differences in emotion.

Positivity effect and decision making in ageing

Across various contexts, older adults demonstrate a positivity effect - an age-related increase in a relative bias toward positive emotional stimuli as compared to negative stimuli. Previous research has demonstrated how this effect can influence decision making processes, specifically information search and choice satisfaction. However, the potential impact of the positivity effect and resulting age differences in information acquisition on decision quality has not been conclusively determined. We conducted an online decision making study comprising choices among charitable organisations with 152 younger and 152 older adults to investigate this relationship. We did not observe the positivity effect defined as higher positivity bias in older compared to younger adults. On the contrary, younger adults showed a slightly higher positivity bias. We also did not observe a link between a bias in information search toward positive or negative stimuli and decision quality. The results replicate the link between positivity bias and decision satisfaction. Older and younger adults did not differ in their decision quality. Finally, the findings did not support a potential influence of loss prevention orientation. Further research is required to address the factors that could influence the positivity effect in decision making.

Age differences in risk taking: now you see them, now you don't

Older age has often, but not always, been associated with less risk taking. Inconsistencies may be due to diversity in the risk-taking measures used and/or individual differences in cognitive abilities. We investigated the robustness of age differences in risk taking across three measures, and tested whether age differences in risk taking remained after accounting for cognitive abilities. Younger (aged 25-36) and older (aged 60+) adults completed behavioral (i.e., Balloon Analogue Risk Task, BART) and self-report (i.e., framing tasks and Choice Dilemmas Questionnaire) measures of risk, as well as several measures of cognitive ability (i.e., analytic thinking, numeracy, processing speed, memory, and attention). Older adults showed significantly less risk taking than younger adults on the behavioral measure of risk, but not on the two self-report measures. Older adults also had significantly lower analytic thinking, slower processing speed, and worse executive control compared to younger adults. Less risk taking on the BART was associated with lower analytic thinking and numeracy, slower processing speed, and worse shifting of attention. Age differences in risk taking on the BART remained after accounting for older adults' lower scores on tests of cognitive abilities. Implications for measuring age differences in risk taking are discussed.

From gains to losses: Age-related differences in decisions under risk in a non-monetary gambling task

Lifespan theory suggests a shift from a primary orientation towards attaining gains in young adulthood to preventing losses in older adulthood. The current research tested if this motivational shift is reflected in behavioural and emotional responses to risks in non-monetary gains and losses. Study 1 established in a sample of N = 168 younger (18-30 years) and older adults (65-79 years) that a non-monetary gambling task was experienced similarly by the age groups with respect to arousal and valence of the task, and the willingness to continue playing. In Study 2 (N = 83), differences between young (18-30 years) and older (64-85 years) adults' risk-taking in this non-monetary gambling task with mixed gambles were tested while assessing physiological responses (event-related heart rate change) to gain and loss feedback. Behavioural - but not physiological - results confirm hypotheses derived from a lifespan motivational framework regarding age-differential effects of gains and losses.

Differential focus on probability and losses between young and older adults in risky decision-making

We examined young and older adults' use of descriptive information about risk (i.e., probability and expected value) in financial decision-making. In Experiment 1, participants chose between lotteries in pairs of bets that offered either two risky gains or one risky gain and one sure gain. Whereas they showed a strong and indiscriminate preference for high-probability gambles in risky-risky pairs, they selected sure options at high rates and risky options at low rates in risky-sure pairs, with slightly stronger effects in older relative to young adults due to age differences in ability. Experiment 2 involved the same task but in terms of losses. Participants, especially older adults, preferred low-probability gambles not accounted for by age differences in ability. Results suggest minimal consideration of expected value and a strong focus on probabilities in decision-making. They also suggest that cognitive ability and chronic goals differentially influence age effects depending on risk context.

How does decisional capacity evolve with normal cognitive aging: systematic review of the literature

PURPOSE

Aging is associated with increased needs related to complex decisions, particularly in medical and social issues. However, the complexity of decision-making involves many neurological functions and structures which are potentially altered by cognitive aging.

METHODOLOGY

A systematic review was conducted in accordance with PRISMA guidelines to examine changes in decision-making occurring in normal cognitive aging. The keywords "decision making" and "normal aging" were used to find the clinical studies and literature reviews focused on these changes.

RESULTS

A total of 97 articles were considered in the review, and ultimately 40 articles were selected, including 30 studies and 10 literature reviews. The data from these studies were of uneven quality and too disparate to allow meta-analysis according to PRISMA criteria. Nevertheless, a key result of the analysis is the decrease of processing speed with aging. In ambiguous decision-making situations, the alteration of the ventromedial system is associated with changes in motivation profiles. These changes can be compensated by experience. However, difficulties arise for older adults in the case of one-off decisions, which are very common in the medical or medico-social domains.

CONCLUSIONS

Cognitive aging is associated with a slowdown in processing speed of decision-making, especially in ambiguous situations. However, decision-making processes which are based on experience and cases in which sufficient time is available are less affected by aging. These results highlight the relativity of decision-making capacities in cognitive aging.

Future time perspective drives younger and older adults to continue investing in failing activities

Inspired by socioemotional selectivity theory, we investigated age differences in further investment in failing situations by considering goal type and future time perspective. In Experiment 1, 32 younger and 30 older adults reported their likelihood of continued investing following an unsuccessful investment. Older adults were more willing to invest with emotional goals as opposed to knowledge and unspecified goals, while younger adults showed a greater willingness to invest with emotional and knowledge goals rather than unspecified goals. In Experiment 2, another sample of 32 younger and 34 older adults completed the same decision tasks as those in Experiment 1. After future time perspective restriction, the younger adults made decisions resembling Experiment 1's older adults, while after future time perspective expansion, the older adults behaved like Experiment 1's younger adults. These results indicate that future time perspective modification could reverse participants' goal prioritisation, manifesting in differential willingness to pursue further investment in decision scenarios with different goals. Our results represent important steps towards understanding the mechanism of older and younger adults' further investment in failing situations and illustrate that forging connections between the lifespan theory of motivation and further investment decision is critical for understanding adults' decision behaviours.

Strive to Win or Not to Lose? Age-Related Differences in Framing Effects on Effort-Based Decision-Making

Objectives

This study sought to assess how framing effects modulate age-related differences in effort-based decision-making. Consistent with the selection, optimization, and compensation (SOC) model’s loss prevention account of aging, we predicted that older adults would be more willing to select high-effort options in loss contexts than gain contexts.

Method

Older and younger adults completed the effort expenditure for rewards task (EEfRT) in either a gain or loss context. The EEfRT is an effort-based decision-making paradigm in which participants choose between a low-effort, “easy” option and a high-effort, “hard” option for several trials. The probability and value of an outcome varies on a trial-by-trial basis.

Results

The results supported our prediction and the SOC model. Older adults chose more high-effort, difficult options in loss frames than gain frames. Older adults also chose more low-effort, easy options than younger adults in gain contexts, but did not differ from younger adults in loss contexts.

Discussion

These findings demonstrate that framing effects impact older adults’ effort-based decisions. Older adults appear willing to incur a greater “cost” in the form of effort to prevent a loss than to attain a reward.

Neural mechanisms of decision-making in aging

The present review synthesizes findings on decision neuroscience and aging by focusing on decision processes that have been extensively studied in neuroeconomics and critically assessing the driving mechanisms of age-related change. The paper first highlights age-related changes to key brain structures that have been implicated in decision-making, then, reviews specific decision components and discusses investigations of age-related changes to their neural mechanisms. The review also weighs evidence for organic brain aging versus age-related changes to social and psychological factors in mediating age effects. Reviewed findings are discussed in the context of theories and frameworks that have been used to explain trajectories of change in decision-making across adulthood. This article is categorized under: Psychology > Development and Aging Psychology > Reasoning and Decision-Making Neuroscience > Cognition.

Perception of Risk for Older Adults: Differences in Evaluations for Self versus Others and across Risk Domains

BACKGROUND AND OBJECTIVES

Proxy decision-making may be flawed by inaccurate perceptions of risk. This may be particularly true when older adults are the targets of the decisions, given the pervasive negative stereotypes about older adults.

METHODS

In study 1, individuals aged 18- to 87 years (as target persons) as well as one of their close social partners (as informants) reported on the risks they perceived for the target person in various life domains. Study 2 additionally explored potential differences in how people make risky decisions on behalf of younger and older adult targets. Younger (age 18-35 years) and older (age 60-81 years) adults (as target persons of the risk evaluations) as well as informants reported on risk perceptions and the likelihood of risk-taking for health, financial, and social scenarios concerning the target persons. Congruence between self-rated and informant-rated risk perceptions and risk-taking were computed on a dyadic as well as a group level.

RESULTS

Informants' risk perceptions were positively associated with the risks their partners perceived for themselves. Informants and their partners agreed that social risks vary little across adulthood, but they disagreed in terms of recreational, financial, and health risks, and in terms of the decisions they would make.

CONCLUSION

Family members, partners, and close friends are sensitive to vulnerabilities of their social partners, but in some domains and according to their partners' age they perceive a greater (or smaller) risk than their partners perceive for themselves. In situations requiring surrogate decision-making, people may decide differently from how their social partners would decide for themselves.

Age, Loss Minimization, and the Role of Probability for Decision-Making

BACKGROUND

Older adults are stereotypically considered to be risk averse compared to younger age groups, although meta-analyses on age and the influence of gain/loss framing on risky choices have not found empirical evidence for age differences in risk-taking.

OBJECTIVE

The current study extends the investigation of age differences in risk preference by including analyses on the effect of the probability of a risky option on choices in gain versus loss situations.

METHODS

Participants (n = 130 adults aged 19-80 years) chose between a certain option and a risky option of varying probability in gain- and loss-framed gambles with actual monetary outcomes.

RESULTS

Only younger adults displayed an overall framing effect. Younger and older adults responded differently to probability fluctuations depending on the framing condition. Older adults were more likely to choose the risky option as the likelihood of avoiding a larger loss increased and as the likelihood of a larger gain decreased. Younger adults responded with the opposite pattern: they were more likely to choose the risky option as the likelihood of a larger gain increased and as the likelihood of avoiding a (slightly) larger loss decreased.

CONCLUSION

Results suggest that older adults are more willing to select a risky option when it increases the likelihood that larger losses be avoided, whereas younger adults are more willing to select a risky option when it allows for slightly larger gains. This finding supports expectations based on theoretical accounts of goal orientation shifting away from securing gains in younger adulthood towards maintenance and avoiding losses in older adulthood. Findings are also discussed in respect to the affective enhancement perspective and socioemotional selectivity theory.

Do Correlates of Pain-Related Stoicism and Cautiousness Differ in Younger and Older People With Advanced Cancer?

Age differences are not evident in pain-related stoicism and cautiousness in people with cancer pain. Little is known about the factors associated with these pain-related attitudes or age-related patterns in these associations. The present cross-sectional study investigated the biopsychosocial correlates of the attitudes in younger and older patients with advanced cancer. Pain-related stoicism (fortitude, concealment, superiority) and cautiousness (self-doubt, reluctance) were assessed using the Pain Attitudes Questionnaire-Revised (PAQ-R). Participants, 155 younger (younger than 60 years old) and 114 older (60 years old or older) patients with advanced cancer completed the PAQ-R and measures of sociodemographic and medical characteristics, pain intensity, cognitive-affective pain-related responses, physical functioning, psychological distress and well-being, and psychosocial functioning. Backwards regression analyses identified correlates for each PAQ-R factor separately for younger and older patients. Activity engagement was a frequent correlate, but its relationship with concealment was the only association common to both age groups. Younger and older patients exhibited different avoidance-related constructs suggesting relational challenges in the former group (avoidant attachment) and intrapersonal fear in the latter (cognitive avoidance). Medical correlates also showed age differences: younger patients showed symptom-focused correlates, whereas older patients showed aging-related correlates. Findings support a biopsychosocial framework of cancer-pain adaptation incorporating a lifespan-developmental perspective.

PERSPECTIVE

To our knowledge, this article is the first to identify biopsychosocial correlates of stoic and cautious attitudes toward cancer pain in younger and older patients with advanced cancer. Findings highlight possible age-related motivations for greater pain-related stoicism or cautiousness and can potentially inform interventions addressing challenges in cancer-pain adaptation in advanced cancer.

Who Dares, Who Errs? Disentangling Cognitive and Motivational Roots of Age Differences in Decisions Under Risk

We separate for the first time the roles of cognitive and motivational factors in shaping age differences in decision making under risk. Younger and older adults completed gain, loss, and mixed-domain choice problems as well as measures of cognitive functioning and affect. The older adults’ decision quality was lower than the younger adults’ in the loss domain, and this age difference was attributable to the older adults’ lower cognitive abilities. In addition, the older adults chose the more risky option more often than the younger adults in the gain and mixed domains; this difference in risk aversion was attributable to less pronounced negative affect among the older adults. Computational modeling with a hierarchical Bayesian implementation of cumulative prospect theory revealed that the older adults had higher response noise and more optimistic decision weights for gains than did the younger adults. Moreover, the older adults showed no loss aversion, a finding that supports a positivity-focus (rather than a loss-prevention) view of motivational reorientation in older age.

Individual classification of strong risk attitudes: An application across lottery types and age groups

Empirical evaluations of risk attitudes often rely on a weak definition of risk that concerns preferences towards risky and riskless options (e.g., a lottery vs. a sure outcome). A large body of work has shown that individuals tend to be weak risk averse in choice contexts involving risky and riskless gains but weak risk seeking in contexts involving losses, a phenomenon known as the reflection effect. Recent attempts to evaluate age differences in risk attitudes have relied on this weak definition, testing whether the reflection effect increases or diminishes as we grow older. The present work argues that weak risk attitudes have limited generalizability and proposes the use of a strong definition of risk that is concerned with preferences towards options with the same expected value but different degrees of risk (i.e., outcome variance). A reanalysis of previously-published data and the results from a new study show that only a minority of individuals manifests the reflection effect under a strong definition of risk, and that, when facing certain lottery-pair types, older adults appear to be more risk seeking than younger adults.

On the Use and Usefulness of Backup Plans

In this article, we introduce the concept of backup plans as a motivational construct, defined as alternative means to an end that are intentionally developed but are not initially (or ever) used. We posit that backup plans change the way that a person pursues a goal, as well as the likelihood of achieving it, even if the backup plans are never used. In some cases, backup plans are a safety net supporting goal pursuit; however, in other cases, they constitute an unnecessary expense that can undermine motivation to persist with a first-choice plan. We propose that variations in the use and usefulness of backup plans are based on a person’s estimation and regulation of complexity value, or the additional costs and benefits that having a backup plan introduces compared with pursuing the same goal with only a single means. Although variations in the estimation and regulation of complexity value are idiosyncratic products of individual, contextual, and goal-related factors, we provide the prototypical example of age-related differences to illustrate our key points. In sum, our conceptualization of backup plans represents a new synthesis of motivation, multiple-goal, and life-span developmental research that addresses a key lacuna in the self-regulation literature.

Hoping for the Best or Planning for the Future: Decision Making and Future Care Needs

Research has shown that relatively few older adults make plans for future care needs. In this study, we explore the thinking processes involved in planning or failing to plan for the future. Interviews were carried out with 39 older adults ( M age = 81 years) who were experiencing disability and illness but who lived in their own home. Guiding questions for the interview focused on present living circumstances, but for the present qualitative analysis, all references to the future, and to future residence changes, were extracted. This approach allowed us to observe how older adults spontaneously address issues of future planning when not constrained to do so. Results supported the use of a positivity bias, as well as a risk-aversive decision-making style. These older adults seemed to be prioritizing present emotional well-being by avoiding thoughts of future risks and thereby eschewing proactive coping.