Aging as a factor for financial decision making

Bistra Radeva

Анотация


The purpose of this paper is to show whether aging affects financial decision making. The paper examines age-related differences in impulsivity, risk taking, financial literacy, confidence, responsibility for the participant’s financial decisions. We conclude that aging is a factor for financial decision making because the analysis of financial behavior of younger adults shows fewer financial mistakes and predicts better financial results in the future than older adults.

Ключови думи


finance; decision making; age

Източници


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