This renewal proposal for the RAND Roybal Center for Financial Decision Making will continue and expand upon the work that we have already done to improve our understanding of how people reach decisions about issues affecting their economic status in old age, and develop tools that can help people align these decisions with their long-term objectives. We will continue to develop a research program focused on how people collect and process information, how they interpret the features of alternatives, how they think about risks and probabilities, how they trade off between the present and the future, what their preferences are, and how well they match their decisions to those preferences;weak links in this process are used to draw implications for better education, information provision or other mechanisms to help people make decisions that better serve them in old age. To that end, we will maintain the American Life Panel, a panel of 1500 respondents (growing to 3000 during the first year of the project period) surveyed about bi-weekly via the Internet. In addition we will develop a Qualitative Research Facility for conducting focus groups and cognitive interviews. We will develop decision support software and extensively use visual aids and graphical designs, thus fully exploiting the advantages offered by the Internet. We will fund pilot projects with a specific substantive focus on economic status in old age and high potential translational value for policymakers, NGOs and/or commercial entities. We will also promote and coordinate research without P30 Roybal Center support on issues that may help us understand individual decision making related to economic status in old age;and promote the use of the Center's Internet panel and Qualitiative Research Facility by these and other research projects. The Roybal Center will work closely with other centers and projects to achieve maximal synergies.

Public Health Relevance

This research project will use internet surveys, focus groups, cognitive interviews, and experiments to develop strategies that help people make better decisions related to economic well-being at older ages.

Agency
National Institute of Health (NIH)
Institute
National Institute on Aging (NIA)
Type
Center Core Grants (P30)
Project #
5P30AG024962-08
Application #
8130953
Study Section
Special Emphasis Panel (ZAG1-ZIJ-3 (M2))
Program Officer
Phillips, John
Project Start
2004-09-30
Project End
2014-08-31
Budget Start
2011-09-01
Budget End
2012-08-31
Support Year
8
Fiscal Year
2011
Total Cost
$368,910
Indirect Cost
Name
Rand Corporation
Department
Type
DUNS #
006914071
City
Santa Monica
State
CA
Country
United States
Zip Code
90401
Bruine de Bruin, Wändi; Wallin, Annika; Parker, Andrew M et al. (2017) Effects of Anti- Versus Pro-Vaccine Narratives on Responses by Recipients Varying in Numeracy: A Cross-sectional Survey-Based Experiment. Med Decis Making 37:860-870
Hoerl, Maximiliane; Wuppermann, Amelie; Barcellos, Silvia H et al. (2017) Knowledge as a Predictor of Insurance Coverage Under the Affordable Care Act. Med Care 55:428-435
de Bruin, Wändi Bruine; Dombrovski, Alexandre Y; Parker, Andrew M et al. (2016) Late-life Depression, Suicidal Ideation, and Attempted Suicide: The Role of Individual Differences in Maximizing, Regret, and Negative Decision Outcomes. J Behav Decis Mak 29:363-371
Strough, JoNell; Bruine de Bruin, Wändi; Parker, Andrew M et al. (2016) What were they thinking? Reducing sunk-cost bias in a life-span sample. Psychol Aging 31:724-736
Carvalho, Leandro S; Meier, Stephan; Wang, Stephanie W (2016) Poverty and Economic Decision-Making: Evidence from Changes in Financial Resources at Payday. Am Econ Rev 106:260-284
Carman, Katherine G; Zamarro, Gema (2016) Does Financial Literacy Contribute to Food Security? Int J Food Agric Econ 4:1-19
Strough, JoNell; Bruine de Bruin, Wändi; Parker, Andrew M et al. (2016) Hour glass half full or half empty? Future time perspective and preoccupation with negative events across the life span. Psychol Aging 31:558-73
Bruine de Bruin, Wändi; Parker, Andrew M; Strough, JoNell (2016) Choosing to be happy? Age differences in ""maximizing"" decision strategies and experienced emotional well-being. Psychol Aging 31:295-300
Delaney, Rebecca; Strough, JoNell; Parker, Andrew M et al. (2015) Variations in Decision-Making Profiles by Age and Gender: A Cluster-Analytic Approach. Pers Individ Dif 85:19-24
Barcellos, Silvia Helena; Jacobson, Mireille (2015) The Effects of Medicare on Medical Expenditure Risk and Financial Strain. Am Econ J Econ Policy 7:41-70

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