Adults Make Riskier, More Inconsistent Decisions As They Get Older, Study Finds

schliz writes: People aged over 65 make poorer financial decisions and inconsistent choices than younger individuals with the same IQ, an international research group has found.

The study had 135 healthy participants aged 12-90 make a series of decisions: for example, choosing between gaining $5 and the chance to win $20 in a lottery. On average, over-65s earned 26-39% less than all other age groups, including adolescents — a finding that could partially explain their susceptibility to problem gambling and scams.