Within the Roybal Center for Health Decision Making and Financial Independence in Old Age, we explore and explain just how people reach decisions about issues that affect their economic status in old age. Armed with this data, we can affect the ways in which public policy can educate or otherwise help people align their financial decisions with long-term objectives.
Our focus is on assessing how people collect information, interpret the features of alternatives, think about risks and probabilities, determine their preferences, then match their decisions to those preferences. As we uncover weak links in that process, we draw implications for better education.
We are painting a detailed picture of financial decision making in America and around the world using such tools as Internet surveys, focus groups, cognitive interviews, and real-time experiments. In this way, we can help people make better decisions for their own economic well-being.
Each year the center runs pilot studies related to decision making. If you are interested in learning more about our findings, please contact Tania Gutsche.
This center is funded by the National Institute on Aging and the Social Security Administration.