Time Preferences of Older People With Mild Cognitive Impairment

40 Pages Posted: 6 Jun 2018

See all articles by Ya'akov M. Bayer

Ya'akov M. Bayer

Ben-Gurion University of the Negev; Beer Sheva Mental Health Center

Bradley J. Ruffle

McMaster University

Ro'i Zultan

Ben-Gurion University of the Negev

Tzvi Dwolatzky

Rambam Health Care Campus & Ruth and Bruce Rappaport Faculty of Medicine, Technion-Israel Institute of Technology

Date Written: May 22, 2018

Abstract

Cognitive impairment has a detrimental influence on the decision-making capabilities of older people. This study investigates the ways in which the time preferences of older adults with mild cognitive impairment (MCI) are influenced by their executive cognitive abilities. Within the framework of this study, older adults underwent a cognitive evaluation using a computerized cognitive assessment battery and then responded to a questionnaire eliciting their preferences for changing amounts of money and time periods. We found that those individuals with better executive cognitive abilities displayed a lower rate of subjective discounting. This study advances our understanding of economic decision-making in old age, especially as influenced by cognitive decline. We hope that our findings will serve as a catalyst in the construction of financial tools relevant to the growing population of older people in society, and thus help to alleviate negative phenomena resulting in older individuals being subjected to fraud and discrimination.

Keywords: Mild Cognitive Impairment, Time Preferences, Financial Decision-Making, Executive Functions, Old Age

Suggested Citation

Bayer, Ya'akov and Ruffle, Bradley J. and Zultan, Ro'i and Dwolatzky, Tzvi, Time Preferences of Older People With Mild Cognitive Impairment (May 22, 2018). Available at SSRN: https://ssrn.com/abstract=3183366 or http://dx.doi.org/10.2139/ssrn.3183366

Ya'akov Bayer

Ben-Gurion University of the Negev ( email )

1 Ben-Gurion Blvd
Beer-Sheba 84105, 84105
Israel

Beer Sheva Mental Health Center ( email )

Israel

Bradley J. Ruffle (Contact Author)

McMaster University ( email )

1280 Main Street West
Hamilton, Ontario L8S 4M4
Canada

HOME PAGE: http://https://socialsciences.mcmaster.ca/people/ruffle-bradley

Ro'i Zultan

Ben-Gurion University of the Negev ( email )

1 Ben-Gurion Blvd
Beer-Sheba 84105, 84105
Israel

Tzvi Dwolatzky

Rambam Health Care Campus & Ruth and Bruce Rappaport Faculty of Medicine, Technion-Israel Institute of Technology ( email )

Haifa
Israel

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