Is Older Wiser?: Effects of Expertise and Aging on Experiential Learning

Ashley Goerke, Temple University, USA
Eric Eisenstein, Temple University, USA
Ayalla Ruvio, Temple University, USA
Consumers are constantly expected to make inferences (about fair market price, product quality etc.) and develop product knowledge based on repeatedly observed, but relatively undefined constructs and as a general rule, people develop expertise from their repeated experiences in markets. This research examines the differences in developing price referent knowledge, based on repeat exposure to multi-attribute product profiles and investigates the costs and benefits of having developed expertise, both recently, and over a lifetime of consumer learning and decision making. We then compare the costs and benefits of expertise in older consumers against the greater processing speed of more youthful subjects.
[ to cite ]:
Ashley Goerke, Eric Eisenstein, and Ayalla Ruvio (2011) ,"Is Older Wiser?: Effects of Expertise and Aging on Experiential Learning", in NA - Advances in Consumer Research Volume 39, eds. Rohini Ahluwalia, Tanya L. Chartrand, and Rebecca K. Ratner, Duluth, MN : Association for Consumer Research, Pages: 839-840.