Profiling older adults’ decision-making under risk: the role of cognitive functioning and personality traits

Abstract

In decision making under risk manifold individual differences are involved. To investigate their effect – specifically the effects of executive functions, memory, impulsivity, and consideration for future consequences − 130 healthy older adults were assessed through cognitive tests, self-report tools, and decisional tasks (the Game of Dice Task and the Balloon Analogue Risk-Taking Task). From a Latent Profile Analysis, three profiles characterised by differences in decisional performances emerged. “Impulsive and present-focused” individuals, notable for high levels of impulsivity and consideration for immediate consequences, and “Cautious” individuals, characterised by having impulsivity scores below average, presented decisional performances characterised by lower incomes and a higher number of risky choices compared to “Impulsive and cognitively functional” individuals, signified by the highest levels of impulsivity and cognitive functioning. Findings outlined how different configurations of individual differences can affect older adults’ decisions and implications can follow for deepening the decisional mechanisms in older adults.

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