Journal
PSYCHOLOGY AND AGING
Volume 25, Issue 2, Pages 289-298Publisher
AMER PSYCHOLOGICAL ASSOC
DOI: 10.1037/a0017927
Keywords
decision making; strategy; meta-analysis; search
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We conducted a meta-analysis of age differences in predecisional information search (N = 1,304) that suggests that aging is associated with a small but significant decrease in predecisional information search (Hedges's g = -0.30). In addition, we investigated the consequences of limited information search for decision quality in real-world consumer environments using simulation methods. Overall, the results suggest that the aging decision maker can afford to neglect information because this leads to small losses in decision quality. In other words, less may be enough for the aging consumer.
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