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“I'm Alright, Jack, Keep Your Hands Off My Stack”

Cognitive Science and Financial Decisions As We Age

March 18, 2016 • 01:02:44

The United States’ population of older adults is projected to double by 2050. This unprecedented demographic shift has wide-ranging implications for our society as demand grows for programs and services tailored to the needs of older adults. As many quickly discover, navigating the patchwork of medical, financial, social, and legal systems needed to meet one’s needs in retirement can be a burden requiring complex decision-making in an uncertain environment.

This is a challenge for even the most sophisticated consumers and there is particular concern about older adults navigating these decisions, as converging neuroscientific and economic research indicates that many cognitive skills decline with age—and age is a principal risk factor for impairing conditions like Alzheimer’s disease and stroke. Given this body of evidence, many advocate for stronger protections for adults from fraud and exploitation. At the same time, persistent ageism and common misperceptions about the prevalence of cognitive impairment in older adults raise concerns about whether well-intentioned attempts to protect older adults risk depriving them of their rights to make autonomous decisions.

Please join David Faigman in conversation with special guests Daniel Marson and Winston Chiong to discuss current and emerging scientific research about how we make decisions as we age, how physicians assess our capacity to make decisions, and the legal and ethical implications for families and society.