文章基本信息

标题：Sound credit scores and financial decisions despite cognitive aging
本地全文：下载
作者：Ye Li ; Jie Gao ; A. Zeynep Enkavi 等
期刊名称：Proceedings of the National Academy of Sciences
印刷版ISSN：0027-8424
电子版ISSN：1091-6490
出版年度：2015
卷号：112
期号：1
页码：65-69
DOI：10.1073/pnas.1413570112
语种：English
出版社：The National Academy of Sciences of the United States of America
摘要：SignificanceAt a time when the world's 65-and-older population will double by 2035, policy changes have transferred many complex financial and healthcare decisions to individuals. Age-related declines in cognitive ability raise the specter that older adults facing major financial decisions may find them increasingly challenging. We explore whether knowledge and expertise accumulated from past decisions can offset age-related cognitive declines. Using a unique dataset that combines measures of cognitive ability, knowledge, and credit scores--a measure of creditworthiness that reflects sustained ability for sound financial decision-making--we find that cognitive decline does not spell doom. Instead, domain-specific knowledge and expertise provide an alternative route to sound financial decisions. These results suggest guidelines for designing effective interventions and decision aids across the life span. Age-related deterioration in cognitive ability may compromise the ability of older adults to make major financial decisions. We explore whether knowledge and expertise accumulated from past decisions can offset cognitive decline to maintain decision quality over the life span. Using a unique dataset that combines measures of cognitive ability (fluid intelligence) and of general and domain-specific knowledge (crystallized intelligence), credit report data, and other measures of decision quality, we show that domain-specific knowledge and expertise provide an alternative route for sound financial decisions. That is, cognitive aging does not spell doom for financial decision-making in domains where the decision maker has developed expertise. These results have important implications for public policy and for the design of effective interventions and decision aids.
关键词：aging ; decision-making ; cognitive ability ; consumer finance ; credit score