Understanding how older adults' beliefs affect their financial decisions
Characterizing the role of confirmation bias in financial exploitation of older adults
['FUNDING_FELLOWSHIP'] · TEMPLE UNIV OF THE COMMONWEALTH · NIH-10899057
This study looks at how older adults, especially those with memory issues like Alzheimer's, might be more likely to trust information that matches their beliefs when making financial decisions, and it uses a fun online investment game to see how their thinking changes over time.
Quick facts
| Phase | ['FUNDING_FELLOWSHIP'] |
|---|---|
| Study type | Nih_funding |
| Sex | All |
| Sponsor | TEMPLE UNIV OF THE COMMONWEALTH (nih funded) |
| Locations | 1 site (PHILADELPHIA, UNITED STATES) |
| Trial ID | NIH-10899057 on ClinicalTrials.gov |
What this research studies
This research investigates how confirmation bias, the tendency to favor information that aligns with existing beliefs, impacts older adults, particularly in the context of financial exploitation. It aims to explore the relationship between cognitive decline and susceptibility to this bias, especially as it relates to conditions like Alzheimer's disease and related dementias. Through an online investment game, participants will engage in activities designed to reveal how cognitive functions influence their decision-making processes over time.
Who could benefit from this research
Good fit: Ideal candidates for this research are older adults experiencing cognitive decline or those diagnosed with mild cognitive impairment or Alzheimer's disease.
Not a fit: Patients who are not experiencing cognitive decline or are younger adults may not benefit from this research.
Why it matters
Potential benefit: If successful, this research could help develop strategies to protect older adults from financial exploitation by understanding their cognitive vulnerabilities.
How similar studies have performed: While the specific focus on confirmation bias in older adults is relatively novel, related research has shown that cognitive decline can increase vulnerability to financial exploitation.
Where this research is happening
PHILADELPHIA, UNITED STATES
- TEMPLE UNIV OF THE COMMONWEALTH — PHILADELPHIA, UNITED STATES (ACTIVE)
Researchers
- Principal investigator: WYNGAARDEN, JAMES — TEMPLE UNIV OF THE COMMONWEALTH
- Study coordinator: WYNGAARDEN, JAMES
About this research
- This is an active NIH-funded research project — typically early-stage science, not a clinical trial accepting patient enrollment.
- Some NIH-funded labs run parallel clinical studies or seek volunteers for related work. To check, contact the principal investigator or institution listed above.
- For full project details, budget, and progress reports, visit the official NIH RePORTER page below.
Conditions: Alzheimer's disease and related dementia, Alzheimer's disease and related disorders, Alzheimer's disease or a related dementia, Alzheimer's disease or a related disorder, Alzheimer's disease or related dementia