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Not only life-span and aging researchers value the investigation of human resources; the search for positive human functioning has also been a hallmark of positive psychology. At least three types of conceptualizations of wisdom can be identified in the literature. Despite their different origins, these three types of conceptualizations share several theoretical ideas. A first is that wisdom is different from other person characteristics in that it is integrative and involves cognitive, affective, and motivational elements. Second, wisdom is an ideal: Many people may strive for wisdom but only few, if any, will ever become truly wise. Third, wisdom-related knowledge is considered an outcome and precursor of the resources and organizational processes related to the meaning and conduct of life. The chapter also discusses the Berlin wisdom paradigm and the research initiated by this paradigm. Wisdom-related knowledge facilitates balancing of one's own interests and those of others, including institutional interests.
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