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Decision Making improves with age

Does age affect complex decision making, for better or worse?

It's well known that certain abilities decline with advanced age -- most notably processing speed - but what about that vast reservoir of decision making experience? Does that count? Does seasoned judgment trump the nimble-mindedness of youth, or the other way around?

Research into these questions carried out at Texas A&M University suggests a fundamental difference in the way in which younger adults and older adults approach decision-making situations and that with age comes wisdom.  

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