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

Kaileigh A Byrne, Reza Ghaiumy Anaraky and Derek Isaacowitz

The Journals of Gerontology: Series B, 2020, vol. 75, issue 10, 2095-2105

Abstract: ObjectivesThis 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.MethodOlder 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.ResultsThe 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.DiscussionThese 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.

Keywords: Aging; Decision-making; Effort; Framing effects (search for similar items in EconPapers)
Date: 2020
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The Journals of Gerontology: Series B is currently edited by Psychological Sciences - S. Duke Han, PhD and Social Sciences - Jessica A Kelley, PhD, FGSA

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