A study by psychologists at the University of Birmingham and the University of Oxford found that older adults are more likely to be influenced by impulsive financial decisions of others compared to young adults. The research focused on delayed gratification and social influence across different age groups. The study involved young adults and older adults who completed a decision-making task and observed others making financial choices. Results showed that older adults were more susceptible to impulsive social influence, especially from those who consistently chose the impulsive option. Understanding these differences can help develop interventions to ensure good financial decision-making throughout one’s life.
Source link
Older people more swayed by impulsive actions of others when making financial decisions, new study shows
