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Aging and consumer decision making
Author(s) -
Carpenter Stephanie M.,
Yoon Carolyn
Publication year - 2011
Publication title -
annals of the new york academy of sciences
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.712
H-Index - 248
eISSN - 1749-6632
pISSN - 0077-8923
DOI - 10.1111/j.1749-6632.2011.06390.x
Subject(s) - extant taxon , task (project management) , decision quality , cognition , cognitive aging , consumption (sociology) , psychology , life span , consumer behaviour , quality (philosophy) , cognitive psychology , marketing , social psychology , business , gerontology , economics , medicine , sociology , patient satisfaction , management , social science , neuroscience , biology , philosophy , epistemology , evolutionary biology
Research on consumer decision making and aging is especially important for fostering a better understanding of ways to maintain consumer satisfaction and high decision quality across the life span. We provide a review of extant research on the effects of normal aging on cognition and decision processes and how these age‐related processes are influenced by task environment, meaningfulness of the task, and consumer expertise. We consider how research centered on these topics generates insights about changes in consumption decisions that occur with aging and identify a number of gaps and directions for future research.