tailieunhanh - Aging and decision making: a comparison between neurologically healthy elderly and young individuals

Once the law goes into effect, individuals who do not have minimal essential coverage will be required to pay a tax penalty. e penalty will be waived if the cost of coverage exceeds 8 percent of family income, if an individual is uninsured for fewer than three months, if an individual’s income is below the federal tax-filing threshold, or if the individual meets other criteria for exemption described in the ACA. New employerresponsibility provisions will apply to firms with 50 or more full-time equivalent employees. Each of these provisions will have an impact on employer decisions to offer coverage and individuals’ choices in taking up health care coverage. For employers with employees that. | ARTICLE IN PRESS ELSEVIER Journal of Economic Behavior Organization Vol. xxx 2004 xxx-xxx JOURNALOF Economic Behavior Organization WWW. elsevier. com locate econbase Aging and decision making a comparison between neurologically healthy elderly and young individuals Stephanie Kovalchika 1 Colin F. Camererb 1 2 3 David M. Gretherb Charles R. Plottb 3 John M. Allmanc 4 a California Institute of Technology MSC 323 Pasadena CA 91125 USA b California Institute of Technology MSC 228-77 Pasadena CA 91125 USA c California Institute of Technology MSC 216-76 Pasadena CA 91125 USA Received 17 March 2003 accepted 15 December 2003 Abstract We report the results of experiments on economic decisions with two populations one of healthy elderly individuals average age 82 and one of younger students average age 20 . We examine confidence decisions under uncertainty differences between willingness to pay and willingness to accept and the theory of mind strategic thinking . Our findings indicate that the older adults decision behavior is similar to that of young adults contrary to the notion that economic decision making is impaired with age. Moreover some of the demonstrated decision behaviors suggest that the elderly individuals are less biased than the younger individuals. 2004 Elsevier . All rights reserved. JEL classification D00 D80 D81 Keywords Age Overconfidence Willingness to pay accept Endowment effect Theory of mind Game theory Risk-taking Corresponding author. Tel. 1 626 395 4068 fax 1 626 405 9841. E-mail addresses stephk@ S. Kovalchik camerer@ . Camerer dmg@ . Grether cplott@ . Plott cebus@ . Allman . 1 Tel. 1 626 395 6800 fax 1 626 795 1547. 2 Tel. 1 626 395 4054 fax 1 626 405 9841. 3 Tel. 1 626 395 4209 fax 1 626 793 8580. 4 Tel. 1 626 395 6805. 0167-2681 - see front matter 2004 Elsevier . All rights reserved. doi 2 5. Kovalchik et al. J. of Economic Behavior