Ye Li|Jie Gao|A. Zeynep Enkavi|Lisa Zaval|Elke U. Weber|Eric J. Johnson
Sound credit scores and financial decisions despite cognitive aging
University of California, Riverside|Decision Sciences (United States)|Columbia University|Decision Sciences (United States)|Columbia University|Decision Sciences (United States)|Columbia University|Decision Sciences (United States)|Columbia University|Decision Sciences (United States)|Columbia University
significance time worlds 65andolder population double 2035 policy changes transferred many complex financial healthcare decisions individuals agerelated declines cognitive ability raise specter older adults facing major financial decisions may find increasingly challenging explore whether knowledge expertise accumulated past decisions offset agerelated cognitive declines using unique dataset combines measures cognitive ability knowledge credit scoresa measure creditworthiness reflects sustained ability sound financial decisionmakingwe find cognitive decline spell doom instead domainspecific knowledge expertise provide alternative route sound financial decisions results suggest guidelines designing effective interventions decision aids across life span