Abstract
A decision-maker is "irregular" if she would choose B from {A, B, C} but not from {A, B} (for example, preferring vanilla ice cream in a choice between vanilla and chocolate, but chocolate in a choice among vanilla, chocolate and strawberry). Similarly to previous studies we observed irregular choices by college students faced with hypothetical discount cards for supermarkets. However, older adults showed no such tendency. The same pattern was observed in three separate studies. We interpret the results in terms of a choice strategy by older adults that protects them from excessive spending.
Original language | English (US) |
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Pages (from-to) | B87-B96 |
Journal | Cognition |
Volume | 81 |
Issue number | 3 |
DOIs | |
State | Published - 2001 |
All Science Journal Classification (ASJC) codes
- Experimental and Cognitive Psychology
- Developmental and Educational Psychology
- Cognitive Neuroscience
- Language and Linguistics
- Linguistics and Language
Keywords
- College students
- Irrational preferences
- Older adults
- Wisdom and aging