Older adults select different but not simpler strategies than younger adults in risky choice.

Younger and older adults often differ in their risky choices. Theoretical frameworks on human aging point to various cognitive and motivational factors that might underlie these differences. Using a novel computational model based on the framework of resource rationality, we find that the two age groups rely on different strategies.

Diminished State Space Theory of Human Aging.

Many new technologies, such as smartphones, computers, or public-access systems (like ticket-vending machines), are a challenge for older adults. One feature that these technologies have in common is that they involve underlying, partially observable, structures () that determine the actions that are necessary to reach a certain goal (e.g.

Need for cognition does not account for individual differences in metacontrol of decision making.

Humans show metacontrol of decision making, that is they adapt their reliance on decision-making strategies toward situational differences such as differences in reward magnitude. Specifically, when higher rewards are at stake, individuals increase reliance on a more accurate but cognitively effortful strategy. We investigated whether the personality trait Need for Cognition (NFC) explains individual differences in metacontrol.

Neural evidence for age-related deficits in the representation of state spaces.

Under high cognitive demands, older adults tend to resort to simpler, habitual, or model-free decision strategies. This age-related shift in decision behavior has been attributed to deficits in the representation of the cognitive maps, or state spaces, necessary for more complex model-based decision-making. Yet, the neural mechanisms behind this shift remain unclear.

Valence bias in metacontrol of decision making in adolescents and young adults.

The development of metacontrol of decision making and its susceptibility to framing effects were investigated in a sample of 201 adolescents and adults in Germany (12-25 years, 111 female, ethnicity not recorded). In a task that dissociates model-free and model-based decision making, outcome magnitude and outcome valence were manipulated. Both adolescents and adults showed metacontrol and metacontrol tended to increase across adolescence.

Seizing the opportunity: Lifespan differences in the effects of the opportunity cost of time on cognitive control.

Previous work suggests that lifespan developmental differences in cognitive control reflect maturational and aging-related changes in prefrontal cortex functioning. However, complementary explanations exist: It could be that children and older adults differ from younger adults in how they balance the effort of engaging in control against its potential benefits. Here we test whether the degree of cognitive effort expenditure depends on the opportunity cost of time (average reward rate per unit time): if the average reward rate is high, participants should withhold cognitive effort whereas if it is low, they should invest more.

Metacontrol of decision-making strategies in human aging.

Humans employ different strategies when making decisions. Previous research has reported reduced reliance on model-based strategies with aging, but it remains unclear whether this is due to cognitive or motivational factors. Moreover, it is not clear how aging affects the metacontrol of decision making, that is the dynamic adaptation of decision-making strategies to varying situational demands.

Developmental Changes in Learning: Computational Mechanisms and Social Influences.

Our ability to learn from the outcomes of our actions and to adapt our decisions accordingly changes over the course of the human lifespan. In recent years, there has been an increasing interest in using computational models to understand developmental changes in learning and decision-making. Moreover, extensions of these models are currently applied to study socio-emotional influences on learning in different age groups, a topic that is of great relevance for applications in education and health psychology.