Convergence of Age Differences in Risk Preference, Impulsivity, and Self-Control: A Multiverse Analysis

Loreen Tisdall, Renato Frey, Dirk U Wulff, David Kellen and XRui Mata

The Journals of Gerontology: Series B, 2024, vol. 79, issue 8, 15365-1135

Abstract: ObjectivesNumerous theories exist regarding age differences in risk preference and related constructs, yet many of them offer conflicting predictions and fail to consider convergence between measurement modalities or constructs. To pave the way for conceptual clarification and theoretical refinement, in this preregistered study we aimed to comprehensively examine age effects on risk preference, impulsivity, and self-control using different measurement modalities, and to assess their convergence.MethodsWe collected a large battery of self-report, informant report, behavioral, hormone, and neuroimaging measures from a cross-sectional sample of 148 (55% female) healthy human participants between 16 and 81 years (mean age = 46 years, standard deviation [SD] = 19). We used an extended sample of 182 participants (54% female, mean age = 46 years, SD = 19) for robustness checks concerning the results from self-reports, informant reports, and behavioral measures. For our main analysis, we performed specification curve analyses to visualize and estimate the convergence between the different modalities and constructs.ResultsOur multiverse analysis approach revealed convergent results for risk preference, impulsivity, and self-control from self- and informant reports, suggesting a negative effect of age. For behavioral, hormonal, and neuroimaging outcomes, age effects were mostly absent.DiscussionOur findings call for conceptual clarification and improved operationalization to capture the putative mechanisms underlying age-related differences in risk preference and related constructs.

Keywords: Biology; Cross-sectional life span trajectories; Revealed preferences; Risk taking; Stated preferences (search for similar items in EconPapers)
Date: 2024
References: Add references at CitEc
Citations:

Downloads: (external link)
http://hdl.handle.net/10.1093/geronb/gbae092 (application/pdf)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:oup:geronb:v:79:y:2024:i:8:p:15365-1135.

Ordering information: This journal article can be ordered from
https://academic.oup.com/journals

Access Statistics for this article

The Journals of Gerontology: Series B is currently edited by Psychological Sciences - S. Duke Han, PhD and Social Sciences - Jessica A Kelley, PhD, FGSA

More articles in The Journals of Gerontology: Series B from The Gerontological Society of America Oxford University Press, Great Clarendon Street, Oxford OX2 6DP, UK.
Bibliographic data for series maintained by Oxford University Press ().