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Financial Literacy, Experience, And Age Differences In Monetary Sequence Preferences, Jenna M. Wilson
Financial Literacy, Experience, And Age Differences In Monetary Sequence Preferences, Jenna M. Wilson
Graduate Theses, Dissertations, and Problem Reports
The emerging research on age differences in monetary sequence preferences suggests that older adults make decisions that are normatively correct from the standpoint of economic theory when choosing to receive larger versus smaller amounts of money sooner than later, but make non-optimal decisions about paying money. In an adult life-span sample (N = 594, aged 20-88, Mage = 46.48, SD= 15.16) recruited through MTurk, the present study examined age differences in monetary sequence preferences. Participants received eight hypothetical scenarios that described monetary events, and completed measures of financial literacy and financial experience. Older age was associated with …