This study aimed to investigate the relationship between cognitive abilities and age differences in information search and the moderating role of task self-relevance by measuring the decision-making process of participants in both high and low self-relevance decision tasks. The participants were 57 young adults and 65 older adults who viewed five alternatives ☓ five attributes decision matrices in which they needed to open the information cells they wanted to explore by clicking the mouse. Processing speed, verbal fluency, working memory and (...) vocabulary were measured as cognitive abilities. The dependent variables were search engagement (including time-related engagement and frequency-related engagement) and search pattern (calculated based on alternative-based or attribute-based search). Results from a structured equation model showed that age negatively predicted these cognitive abilities (processing speed, verbal fluency, working memory and vocabulary), and positively predicted information searching engagement. Processing speed mediated the impact of age on study time per cell under tasks with both high and low self-relevance; whereas verbal fluency mediates total searching time and searching time per check only when the task is highly self-related, but not in the task with low self-relevance. These results suggested that self-relevance could moderate the mediation effect of verbal fluency on the relationship between age and information searching time, which means that older adults whose verbal fluency was limited need relatively more time to search information to make an informed decision. However, this impact is only sufficient when the decision task is highly self-related and draws more engagement motivation into it. (shrink)

Social cues, such as being watched, can subtly alter fund investment choices. This study aimed to investigate how cues of being watched influence decision-making, attention allocation, and risk tendencies. Using decision scenarios adopted from the “Asian Disease Problem,” we examined participants’ risk tendency in a financial scenario when they were watched. A total of 63 older and 66 younger adults participated. Eye tracking was used to reveal the decision-maker’s attention allocation. The results found that both younger and older adults tend (...) to seek risk in the loss frame than in the gain frame. Watching eyes tended to escalate reckless gambling behaviors among older adults, which led them to maintain their share in the depressed fund market, regardless of whether the options were gain or loss framed. The eye-tracking results revealed that older adults gave less attention to the sure option in the eye condition. However, their attention was maintained on the gamble options. In comparison, images of “watching eyes” did not influence the risk seeking of younger adults but decreased their framing effect. Being watched can affect financial risk preference in decision-making. The exploration of the contextual sensitivity of being watched provides us with insight into developing decision aids to promote rational financial decision-making, such as human-robot interactions. Future research on age differences still requires further replication. (shrink)