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Does age decrease your ability to make wise decisions?

Does age decrease your ability to make wise decisions? From a personal standpoint, I hope not! I recently read an article that mentioned this.

A study published in the journal, Proceedings of Sciences, suggests that our ability to make wise decisions changes over time, and actually declines in old age.

The study found that in certain situations, the decision-making ability of people older than 65 was worse than that of adolescents.

The study’s authors mentioned that although teens were more apt to drive carelessly, seniors were more likely to make poor medical and financial decisions.

The study involved 135 men and women ages 12 to 90. The 36 seniors who participated were all screened and determined to be healthy. The questions in the study were designed to gauge risk aversion, consistency of thought, and rationality.

This study disturbs me. A study of 135 people determined thatĀ age decreases our ability to make wise decisions. That really surprised me! Isn’t good decision-making a matter of using experience, common sense, and intelligent information gathering? Wouldn’t that increase with age?

I’m not a big fan of polls, and I’m inclined to question a small study such as this. A small sample of people can determine elections and cause people to believe non-truths.

Am I being “too sensitive” about this? Perhaps I’m biased since I’m in the older range. What do you think? Do you believe that decision making gets worse in older people? I’m interested in any thoughts or comments that you have.

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