Older adults place lower value on choice relative to young adults

dc.contributor.author	Simon, Kosali
dc.date.accessioned	2010-06-11T13:13:27Z
dc.date.available	2010-06-11T13:13:27Z
dc.date.issued	2009
dc.description.abstract	Choice is highly valued in modern society, from the supermarket to the hospital; however, it remains unknown whether older and younger adults place the same value on increased choice. The current investigation tested whether 53 older ( M age = 75.44 years) versus 53 younger adults ( M age = 19.58 years) placed lower value on increased choice by examining the monetary amounts they were willing to pay for increased prescription drug coverage options — important given the recently implemented Medicare prescription drug program. Results indicate that older adults placed lower value on increasing choice sets relative to younger adults, who placed progressively higher value on increasingly larger choice sets. These results are discussed regarding their implications for theory and policy.	en_US
dc.identifier.citation	Journal of Gerontology: Psychological Sciences, 64B(4), 443–446, doi:10.1093/geronb/gbp021	en_US
dc.identifier.uri	https://hdl.handle.net/1813/15112
dc.language.iso	en_US	en_US
dc.subject	Policy Analysis and Management	en_US
dc.title	Older adults place lower value on choice relative to young adults	en_US
dc.type	article	en_US

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