Abstract
There is minimal research investigating the influence of advice on decision-making in older age. The present study investigated the effect of different types of bad advice, relative to no advice, on young and older adults’ decision-making in the Iowa Gambling Task (IGT). Fifty-four older adults and 59 young adults completed the IGT after receiving no advice, or advice to select from disadvantageous deck A (small, high-frequency losses), or disadvantageous deck B (larger, low-frequency losses). Corrugator EMG, memory and fluid intelligence were assessed. Averaged across advice conditions, older adults made more disadvantageous selections than young adults. There were no age-related differences in responding to bad advice, nor in corrugator activity in response to losses (i.e. frowning), or in learning to avoid deck A faster than deck B. Selecting from deck B was associated with reduced education among older adults, and reduced fluid intelligence among young adults. The data suggest that older adults make more disadvantageous decisions than young adults, and this is not exacerbated by bad advice. Both young and older adults are slower at learning to avoid choices resulting in low frequency relative to high-frequency losses, and this may be associated with individual differences in cognitive processing.