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Abstract

In two experiments, younger and older adults performed decision-making tasks in which reward values available were either independent of or dependent on the previous sequence of choices made. The choice-independent task involved learning and exploiting the options that gave the highest rewards on each trial. In this task, the stability of the expected reward for each option was not influenced by the previous choices participants made. The choice-dependent task involved learning how each choice influenced future rewards for two options and making the best decisions based on that knowledge. Younger adults performed better when rewards were independent of choice, whereas older adults performed better when rewards were dependent on choice. These findings suggest a fundamental difference in the way in which younger adults and older adults approach decision-making situations. We discuss the results in the context of prominent decision-making theories and offer possible explanations based on neurobiological and behavioral changes associated with aging.

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Aging gracefully: compensatory brain activity in high-performing older adults.

Roberto Cabeza, Nicole Anderson, Jill Locantore … (2002)

Whereas some older adults show significant cognitive deficits, others perform as well as young adults. We investigated the neural basis of these different aging patterns using positron emission tomography (PET). In PET and functional MRI (fMRI) studies, prefrontal cortex (PFC) activity tends to be less asymmetric in older than in younger adults (Hemispheric Asymmetry Reduction in Old Adults or HAROLD). This change may help counteract age-related neurocognitive decline (compensation hypothesis) or it may reflect an age-related difficulty in recruiting specialized neural mechanisms (dedifferentiation hypothesis). To compare these two hypotheses, we measured PFC activity in younger adults, low-performing older adults, and high-performing older adults during recall and source memory of recently studied words. Compared to recall, source memory was associated with right PFC activations in younger adults. Low-performing older adults recruited similar right PFC regions as young adults, but high-performing older adults engaged PFC regions bilaterally. Thus, consistent with the compensation hypothesis and inconsistent with the dedifferentiation hypothesis, a hemispheric asymmetry reduction was found in high-performing but not in low-performing older adults. The results suggest that low-performing older adults recruited a similar network as young adults but used it inefficiently, whereas high-performing older adults counteracted age-related neural decline through a plastic reorganization of neurocognitive networks.

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The neural basis of financial risk taking.

Camelia M. Kuhnen, Brian Knutson (2005)

Investors systematically deviate from rationality when making financial decisions, yet the mechanisms responsible for these deviations have not been identified. Using event-related fMRI, we examined whether anticipatory neural activity would predict optimal and suboptimal choices in a financial decision-making task. We characterized two types of deviations from the optimal investment strategy of a rational risk-neutral agent as risk-seeking mistakes and risk-aversion mistakes. Nucleus accumbens activation preceded risky choices as well as risk-seeking mistakes, while anterior insula activation preceded riskless choices as well as risk-aversion mistakes. These findings suggest that distinct neural circuits linked to anticipatory affect promote different types of financial choices and indicate that excessive activation of these circuits may lead to investing mistakes. Thus, consideration of anticipatory neural mechanisms may add predictive power to the rational actor model of economic decision making.