How Well Do We Know Our Inner Daredevil? Probing the Relationship Between Self‐Report and Behavioral Measures of Risk Taking

Rolison, Jonathan J.; Pachur, Thorsten

doi:10.1002/bdm.1979

Cited by 11 publications

(13 citation statements)

References 66 publications

(83 reference statements)

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“…Our findings seem to reflect a general tendency toward caution in financial contexts with advancing age, at least in comparison with the views of others. This is in line with the finding that older adults are less willing than younger adults to take risks on a range of monetary gambling tasks [4,23,[28][29][30][31], although such tasks typically involve gambling on small and inconsequential monetary gains and losses (for a discussion of this issue see [32]).…”

Section: Perceptions Of Risk For Older Adults 19supporting

confidence: 78%

Perception of Risk for Older Adults: Differences in Evaluations for Self versus Others and across Risk Domains

Rolison¹,

Hanoch²,

Freund³

2018

Gerontology

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Background and objectives: Proxy decision-making may be flawed by inaccurate perceptions of risk. This may be particularly true when older adults are the targets of the decisions, given the pervasive negative stereotypes about older adults. Methods: Study 1: 18-to 87-year-olds (as target persons) as well as one of their close social partners (as informants) reported on the risks they perceived for the target person in various life domains. Study 2 additionally explored potential differences in how people make risky decisions on behalf of younger and older adult targets. Younger (18-35 years) and older (60-81 years) adults (as target persons of the risk evaluations) as well as informants reported on risk perceptions and likelihood of risk-taking for health, financial, and social scenarios concerning the target persons. Congruence between selfrated and informant-rated risk perceptions and risk-taking were computed on a dyadic as well as group level. Results: Informants' risk perceptions were positively associated with the risks their partners perceived for themselves. Informants and their partners agreed that social risks vary little across adulthood, but disagreed for recreational, financial, and health risks, disagreeing also in the decisions they would make. Conclusion: Family members, partners, and close friends are sensitive to vulnerabilities of their social partners, but in some domains and according to their partners' age perceive greater (or less) risk than their partners perceive for themselves. In situations requiring surrogate decision-making, people may decide differently to how their social partners would decide for themselves. Perceptions of risk for older adults 3Perception of risk for older adults: The role of perspective and life domain As people age, they face risky decisions in a range of domains, such as health, recreation, finance, and social environment. However, risk in these domains may not change uniformly across adulthood. For example, the social risk of speaking in public may be similar across adulthood, whereas swimming in rapid waters may pose greater risk for older adults who typically have lower muscle strength. There also exist individual differences in the factors associated with risk at any given age. For instance, while the average 75-year-old may have lower muscle strength than the average 45-year-old, a specific 75-year-old's muscle strength may be higher than that of her 45-year-old daughter. People likely possess unique insight into the personal risks they face (e.g., informed by perceptions of their own frailty).Yet, in many instances, such as when decision-making capacity is impaired in older age, family members, partners, or close friends are called to act as surrogate decision-makers and to decide partially or entirely on behalf of others. In fact, nearly half of hospitalized patients aged 65 years and older receive at least some surrogate involvement in decisions about their health care and treatment [1]. Close to one quarter of the medical decisions that involve a surro...

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Section: Perceptions Of Risk For Older Adults 19supporting

confidence: 78%

Perception of Risk for Older Adults: Differences in Evaluations for Self versus Others and across Risk Domains

Rolison¹,

Hanoch²,

Freund³

2018

Gerontology

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“…(4,5) Many older adults must also decide whether to surrender their driving privileges and compromise their mobility on the basis of doctors' recommendations and the advice of friends and family. (6) Psychological literature has often reported that older adults exercise caution in situations that involve risk, (7)(8)(9) particularly in health, recreational, and financial contexts. (10) Yet, are older adults also more responsive to warnings about potential risk?…”

Section: Introductionmentioning

confidence: 99%

“…In the current research, we studied risky decision making in younger and healthy older adults in the local community. In contrast with previous approaches that have used monetary gambles (9,17) or examples of extreme activities (e.g., bungee jumping), (38) we designed four everyday scenarios about which people of all ages would have some relevant knowledge or experience. Scenarios described visiting a family member in a local hospital despite poor weather (weather scenario), using an ATM machine in the street (fraud scenario), ordering a high-salt meal at a restaurant (health scenario), and accepting a car ride without access to a seat belt (safety scenario).…”

Section: Introductionmentioning

confidence: 99%

Age and Adaptation: Stronger Decision Updating about Real World Risks in Older Age

2017

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In later life, people are faced with a multitude of risky decisions that concern their health, finance, and personal security. Older adults often exercise caution in situations that involve risk. In this research, we asked whether older adults are also more responsive to warnings about potential risk. An answer to this question could reveal a factor underlying increased cautiousness in older age. In Study 1, participants decided whether they would engage in risky activities (e.g., using an ATM machine in the street) in four realistic scenarios about which participants could be expected to have relevant knowledge or experience. They then made posterior decisions after listening to audio extracts of real reports relevant to each activity. In Study 2, we explored the role that emotions play in decision updating. As in Study 1, participants made prior and posterior decisions, with the exception that for each scenario the reports were presented in their original audio format (high emotive) or in a written transcript format (low emotive). Following each posterior decision, participants indicated their emotional valence and arousal responses to the reports. In both studies, older adults engaged in fewer risky activities than younger adults, indicative of increased cautiousness in older age, and exhibited stronger decision updating in response to the reports. Older adults also showed stronger emotional responses to the reports, even though emotional responses did not differ for audio and written transcript formats. Finally, age differences in emotional responses to the reports accounted for age differences in decision updating.

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“…Lönnqvist, Verkasalo, Walkowitz, & Wichardt, 2014;Rolison & Pachur, 2016). Behavioural measures are performance-based, and therefore objective, and enable execution of well-controlled manipulations of parameters of each decision (e.g.…”

Section: Introductionmentioning

confidence: 99%

“…When those factors are accounted for, older adults risk just as much -and sometimes even more -than young people (see e.g. Huang, Wood, Berger, & Hanoch, 2013;Mamerow et al, 2016;Rolison & Pachur, 2016). In light of all the above, it is plausible that youths' overall higher propensity to take all kinds of risks is also only a "reasonable speculation" (Willoughby et al, 2013), validating a targeted research approach.…”

Section: Introductionmentioning

confidence: 99%

Many face(t)s of young people’s risk-taking: Individual and situational determinants

Czernecka¹,

Fryt²,

Szczygieł³

et al. 2017

Current Issues in Personality Psychology

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backgroundAdolescence and young adulthood are frequently characterised by a strong propensity to take risks. Yet, empirical data shows that personality traits, type and features of risk measures, or presence of additional incentives can significantly influence one's risk-taking tendency. Our aim was to investigate young people's risk-taking and point out when and how individual and situational factors may increase or decrease their risk-taking propensity. participants and procedureParticipants were adolescents and emerging adults (N = 173, age range: 13-30). Each completed two behavioural risk measures ("hot" and "cold" decision tasks) in two conditions, with or without financial incentives. Questionnaires assessing self-declared risk-taking, sensation seeking, and impulsivity were also used. Statistical analyses were conducted with gender and age as additional factors. resultsIn "hot" risk tasks all participants risked the same, while the tendency to take risks in "cold" tasks was higher for older participants, especially in the presence of incentives. Males risked more than females, apart from "hot" incentivised tasks where no gender differences were found. Sensation seeking and impulsivity were significant predictors of risk-taking in "hot" incentivised tasks, while performance in "cold" non-incentivised tasks depended on sensation seeking only. conclusionsOur results show that risk-taking is not a unitary phenomenon, and young people are not universal risk-takers. Certain personality traits seem to predispose this group to taking risks, but only in some circumstances (e.g. "hot" decisions). Factors such as task context or additional incentives can not only increase but also decrease risk-taking in young people, resulting in more caution on their behalf.

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How Well Do We Know Our Inner Daredevil? Probing the Relationship Between Self‐Report and Behavioral Measures of Risk Taking

Cited by 11 publications

References 66 publications

Perception of Risk for Older Adults: Differences in Evaluations for Self versus Others and across Risk Domains

Perception of Risk for Older Adults: Differences in Evaluations for Self versus Others and across Risk Domains

Age and Adaptation: Stronger Decision Updating about Real World Risks in Older Age

Many face(t)s of young people’s risk-taking: Individual and situational determinants

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