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ERIC Number: EJ781336
Record Type: Journal
Publication Date: 2007
Pages: 26
Abstractor: Author
Reference Count: 108
ISSN: ISSN-0018-716X
Bounded Rationality, Emotions and Older Adult Decision Making: Not so Fast and yet so Frugal
Hanoch, Yaniv; Wood, Stacey; Rice, Thomas
Human Development, v50 n6 p333-358 2007
Herbert Simon's work on bounded rationality has had little impact on researchers studying older adults' decision making. This omission is surprising, as human constraints on computation and memory are exacerbated in older adults. The study of older adults' decision-making processes could benefit from employing a bounded rationality perspective, but any such attempt must take into account the role that emotions play in older adults' information processing, memory, and attention allocation. This is especially the case because older adults show relatively less decrements in performance when tasks are imbedded in or laden with emotional stimuli, and they exhibit a greater tendency to rely on emotional information. We examine recent work on bounded rationality and studies investigating older adults' utilization of, and attention to, emotional information, with the aim of creating a framework that captures the mechanisms underlying older adults' decision making.
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Publication Type: Information Analyses; Journal Articles
Education Level: N/A
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: N/A