Li Ye, Gao Jie, Enkavi A Zeynep, Zaval Lisa, Weber Elke U, Johnson Eric J
School of Business Administration, University of California, Riverside, CA 92521;
Center for Decision Sciences, Graduate School of Business, Columbia University, New York, NY 10027; and.
Proc Natl Acad Sci U S A. 2015 Jan 6;112(1):65-9. doi: 10.1073/pnas.1413570112. Epub 2014 Dec 22.
Age-related deterioration in cognitive ability may compromise the ability of older adults to make major financial decisions. We explore whether knowledge and expertise accumulated from past decisions can offset cognitive decline to maintain decision quality over the life span. Using a unique dataset that combines measures of cognitive ability (fluid intelligence) and of general and domain-specific knowledge (crystallized intelligence), credit report data, and other measures of decision quality, we show that domain-specific knowledge and expertise provide an alternative route for sound financial decisions. That is, cognitive aging does not spell doom for financial decision-making in domains where the decision maker has developed expertise. These results have important implications for public policy and for the design of effective interventions and decision aids.
与年龄相关的认知能力衰退可能会损害老年人做出重大财务决策的能力。我们探讨从过去决策中积累的知识和专业技能是否能够抵消认知衰退，从而在整个生命周期内维持决策质量。通过使用一个独特的数据集，该数据集结合了认知能力（流体智力）、一般和特定领域知识（晶体智力）的测量、信用报告数据以及其他决策质量指标，我们表明特定领域的知识和专业技能为合理的财务决策提供了一条替代途径。也就是说，在决策者已积累专业技能的领域，认知衰老并不意味着财务决策的失败。这些结果对公共政策以及有效干预措施和决策辅助工具的设计具有重要意义。
