2012
DOI: 10.1371/journal.pone.0043647
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Poor Decision Making Is a Consequence of Cognitive Decline among Older Persons without Alzheimer’s Disease or Mild Cognitive Impairment

Abstract: ObjectiveDecision making is an important determinant of health and well-being across the lifespan but is critical in aging, when many influential decisions are made just as cognitive function declines. Increasing evidence suggests that older adults, even those without dementia, often make poor decisions and are selectively vulnerable to scams. To date, however, the factors associated with poor decision making in old age are unknown. The objective of this study was to test the hypothesis that poor decision maki… Show more

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Cited by 170 publications
(154 citation statements)
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“…Boyle et al (2012) and Boyle (2013) examined how cognitive abilities before dementia onset predicted financial decision making five years later, and found that more rapid cognitive decline lead to poorer decision-making abilities (hypothetical mutual fund options), even in participants with Mild Cognitive Impairment. These results are consistent with Marson et al’s (2009) program of research on the Financial Capacity Instrument.…”
Section: Financial Decision Making In Older Adultsmentioning
confidence: 99%
“…Boyle et al (2012) and Boyle (2013) examined how cognitive abilities before dementia onset predicted financial decision making five years later, and found that more rapid cognitive decline lead to poorer decision-making abilities (hypothetical mutual fund options), even in participants with Mild Cognitive Impairment. These results are consistent with Marson et al’s (2009) program of research on the Financial Capacity Instrument.…”
Section: Financial Decision Making In Older Adultsmentioning
confidence: 99%
“…Boyle et al (2012) and Bryan, Boyle, and Bennett (2014) developed a five-item measure of fraud susceptibility for older adults that assesses how frequently older adults report feeling obligated to answer the phone, having trouble ending phone calls, or believing things that sound too good to be true. Boyle et al examined 420 non-demented older adults from the Rush University Memory and Aging Project at baseline and 5-year follow-up.…”
Section: Introductionmentioning
confidence: 99%
“…Other researchers have measured aspects of elders’ financial decision-making ability through assessment of financial literacy and hypothetical scenarios (Boyle et al, 2012; James, Boyle, Bennett, & Bennett, 2012). Financial literacy is interpreted as the ability to perform simple calculations (e.g., add up purchases and interest rates) and knowledge of financial concepts such as stocks, bonds, and compound interest, which the authors acknowledge may not apply to seniors with limited education (Boyle et al, 2012). Hypothetical financial situations are designed to simulate (a) the resources and documents used in real-world financial settings (e.g.…”
Section: Literature Reviewmentioning
confidence: 99%