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Variability in Nucleus Accumbens Activity Mediates Age-Related Suboptimal Financial Risk TakingGregory R. Samanez-LarkinVanderbilt University - Department of Psychology Camelia M. KuhnenNorthwestern University - Kellogg School of Management Daniel J. YooStanford University - Psychology Brian KnutsonStanford University - Psychology January 27, 2010 Journal of Neuroscience, Vol. 30, No. 4, pp. 1426-1434, January 2010 Abstract: As human life expectancy continues to rise, financial decisions of aging investors may have an increasing impact on the global economy. In this study, we examined age differences in financial decisions across the adult life span by combining functional neuroimaging with a dynamic financial investment task. During the task, older adults made more suboptimal choices than younger adults when choosing risky assets. This age-related effect was mediated by a neural measure of temporal variability in nucleus accumbens activity. These findings reveal a novel neural mechanism by which aging may disrupt rational financial choice.
Number of Pages in PDF File: 50 Keywords: neuroeconomics, neurofinance, brain, aging, financial risk taking, mistakes, nucleus accumbens, striatum, FMRI, brain imaging JEL Classification: C91, D81, G11, J14 Accepted Paper SeriesDate posted: August 3, 2010Suggested CitationContact Information
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