Researchers from SWPS University conducted a study that challenges widespread myths about older adults. The article, published in the journal Ageing and Society, states that older people are more inclined to take risks and are resilient to manipulation when making decisions.
Previous Research and Its Contradictions
Previous studies on the decision-making abilities of older people have not always led to clear conclusions. Some studies suggested that older adults are less likely to take risks and more susceptible to manipulation, while others showed the opposite.
New Research: Older Adults Have the Same Decision-Making Ability as Younger People
The study conducted by SWPS University found that with sufficient practice and experience, older people demonstrate decision-making abilities comparable to those of younger individuals. This challenges the common stereotypes that older adults are less capable of making rational choices. 
Research Methodology
The researchers conducted two experiments: an online study with 357 participants and a laboratory study with 173 participants. The participants were divided into age groups: youth (18-33 years), middle-aged adults (42-57 years), and older adults (65-80 years). All participants had the same number of years of education.
Results: Older People Are More Inclined to Take Risks, but Resilient to Manipulation
The results of the study were surprising. Older people showed a significantly greater tendency to take risks compared to the younger participants. However, despite this, both age groups demonstrated the same ability to resist manipulation related to the attraction effect (the decoy effect or asymmetric dominance effect).
Slower, But More Effective: Learning and Correcting Mistakes
It is important to note that older people initially made more mistakes in situations with serious consequences. However, they successfully learned and improved their decision-making skills through practice. Although the learning process took longer for older adults, by the end of the experiment, they performed just as well as the younger participants.
Cognitive Functioning and Adaptation
The researchers emphasize that aging does not reduce the ability to make correct decisions or defend against manipulation. Instead, it may affect the speed of processing new information, which requires more time for adaptation.
Important Findings for Overcoming Stereotypes
The results of the study have significant implications for society. They show that older adults often do not need protection from making choices, but rather the opportunity and time to familiarize themselves with new situations. This is especially important in interactions with financial advisors, healthcare professionals, and family members.
Conclusion
The SWPS University study debunks common myths about aging and highlights the importance of considering the cognitive abilities of older adults when making decisions. These findings could contribute to more fair and respectful treatment of older individuals in various areas of life.
