Golden Or Graying? Cognitive Ability and Experience Predict Financial Outcomes ACRoss the Lifespan

Ye Li, University of California, Riverside, USA
Eric Johnson, Columbia University, USA
Zeynep Enkavi, Columbia University, USA
Jie Gao, Columbia University, USA
Lisa Zaval, Columbia University, USA
Elke Weber, Columbia University, USA
Greater crystallized intelligence in older adults may compensate for their declining fluid intelligence for decision-making. We explore whether this interaction extends to real-world financial behaviors by combining measures of cognitive ability and knowledge with credit report data. We find support for the positive roles of fluid intelligence and domain-specific expertise.
[ to cite ]:
Ye Li, Eric Johnson, Zeynep Enkavi, Jie Gao, Lisa Zaval, and Elke Weber (2014) ,"Golden Or Graying? Cognitive Ability and Experience Predict Financial Outcomes ACRoss the Lifespan", in NA - Advances in Consumer Research Volume 42, eds. June Cotte and Stacy Wood, Duluth, MN : Association for Consumer Research, Pages: 106-112.