Aging and consumer decision making

Carpenter, Stephanie M.; Yoon, Carolyn

doi:10.1111/j.1749-6632.2011.06390.x

Cited by 55 publications

(90 citation statements)

References 81 publications

(164 reference statements)

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“…Atrophy is clinically corroborated by an alteration of cognitive abilities, particularly executive functions. Various studies have demonstrated that verbal fluency, attention span, working memory and planning skills [21][22][23][24][25][26][27][28] also show an age-related decline. The performance of inhibition tasks is particularly affected [21,29].…”

Section: Alteration Of Processing Speedmentioning

confidence: 99%

“…Yet, when the speed of information processing is controlled in clinical research, the cognitive alterations previously described are significantly reduced [22,23,25,30,[33][34][35][36]. This is particularly true for tasks requiring mental flexibility, in which the decrease in processing speed is more prominent than difficulties in the analysis [25,33].…”

Section: Alteration Of Processing Speedmentioning

confidence: 99%

“…-The timing of decision-making in relation to circadian rhythm. Indeed, maximum cognitive availability of older adults is no longer in the afternoon or evening (as in younger adults), but rather in the morning [22]. -The environmental context of decision-making (sounds, number of proposals, clarity of information, the impression of familiar information, etc.).…”

Section: Macro-behavioural Changesmentioning

confidence: 99%

“…The influence of environmental conditions can be compensated by appropriate measures (e.g. note-taking) [22].…”

Section: Macro-behavioural Changesmentioning

confidence: 99%

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

et al. 2019

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Key summary pointsAim The complexity of decision-making involves many neurological functions and structures which are potentially altered by cognitive aging. Findings Our systematic review shows a decrease in processing speed in normal aging, usually compensated by experience. Nevertheless, in the case of decisions that cannot be based on previous experience, decision-making will be more difficult for older adults. Compared to younger adults, older ones will be more inclined to maintain existing achievements than try to gain potential benefits.Message Decision-making supports should take into account age-related characteristics to facilitate informed decision-making. AbstractPurpose 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 decisionmaking 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.

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Section: Alteration Of Processing Speedmentioning

confidence: 99%

Section: Alteration Of Processing Speedmentioning

confidence: 99%

Section: Macro-behavioural Changesmentioning

confidence: 99%

“…The influence of environmental conditions can be compensated by appropriate measures (e.g. note-taking) [22].…”

Section: Macro-behavioural Changesmentioning

confidence: 99%

See 2 more Smart Citations

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

et al. 2019

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“…Other study, Hamilton (2009) revealed significant association of poverty narrative and household decision making. Yoon and Carpenter (2013) examined the effect of aging and consumer decision making, and a study by Hall et al (1995) claimed that high and low involvement products are associated with gender, family structure in relation to family decision making. Maguire and Zhang (2016); Richard and Masud (2016) identified that cultural intermediaries personal, consuming preferences and practices are significant to buying decision making.…”

Section: Theoretical and Empirical Aspect Of Consumer Decision Makingmentioning

confidence: 99%

Perceived Risk Influence on Brand Made in Ghana Consumer Decision Making towards Non-Perishable Products Category

Yeboah¹,

Owusu-Prempeh²,

Adjei³

2018

IJBM

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The main purpose of this research study is to explore perceived risk influence on brand made in Ghana consumer decision making towards non-perishable products category. The study is particularly positioned to advance knowledge in the theories of buyer behaviour pertaining to the purchase consumer decision model (EKB modelEngel, Kollet, Blackwell). The key variables investigated include performance risk, financial risk, physical risk, and social risk. A sample of 206 respondents was employed using convenient selection method. A self-completed 5 point Likert structured questionnaire survey was the data collection instrument used. The data collected were computed and analysed by linear regression to determine significant influence of the variables involved in this study. Overall results of the perceived risk variables showed that only performance risk was found significant influence on brand made in Ghana consumer decision making towards non-perishable products category. Among the variables that are rejected with no significant influence on brand made in Ghana decisions includes financial risk, physical risk, and social risk. It is recommended that manufacturers and policy makers develop more pragmatic and practical integrated approach supported by policy document in order to sensitise minds of consumers towards brand made in Ghana.

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Older adults' decisions on smart home systems: Better put an age tag on it!

Tipaldi

Natter

2022

Psychology and Marketing

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Addressing the demands of our aging society, technologies such as smart home systems enhance older adults' independence and enable them to live longer at home. Yet, older adults tend to avoid, delegate, or defer decisions, and smart home systems are rarely used by individuals over the age of 65. Drawing on research on choice overload and age labels, we investigate across four studies how the presentation of smart home systems can influence the decision-making process of older adults ages 65+ by mitigating choice complexity and, consequently, choice avoidance. We argue that age-framing of complex systems makes the choice options easier to process for older adults than does price-framing, the current market standard. We find that age-framing positively affects the rate of choice, and we identify reduced choice complexity as the underlying process. Our research further demonstrates that family members, as important co-deciders, evaluate decisions made on age-framed alternatives more positively, thus making it easier for older adults to justify their decisions. We thus contribute to research on the decision-making of older adults in general and on age labels in particular, and we identify important practical implications

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Aging and consumer decision making

Cited by 55 publications

References 81 publications

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

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

Perceived Risk Influence on Brand Made in Ghana Consumer Decision Making towards Non-Perishable Products Category

Older adults' decisions on smart home systems: Better put an age tag on it!

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