Time Preferences of Older People with Mild Cognitive Impairment
Posted: 1 Jan 2020 Last revised: 14 Apr 2020
Date Written: December 14, 2019
Aging is frequently accompanied by a decline in cognitive abilities that may impair problem-solving abilities and influence decision-making capabilities. Executive functions play a central role in the ability to plan and solve problems. We examined the association between financial time preferences and executive function in older adults with mild cognitive impairment (MCI).
Subjects aged 60 years and older with a clinical diagnosis of MCI and a group of individuals whose cognitive function was within normal limits, underwent cognitive evaluation using a computerized cognitive assessment battery (Neurotrax). In addition, participants completed a questionnaire to determine the subjective discount rate (SDR) based on preferences for various sums of money and time periods. Univariate and multivariate models were constructed to determine the influence of cognitive scores on SDR.
Keywords: Mild cognitive impairment, time preferences, financial decision-making, executive functions, old age
JEL Classification: I12
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