Principal Investigators


A/Prof Anup Basu

Institution


Queensland University of Technology

Contact information of lead PI


Country


Australia

Title of project or programme


Financial Decision making in Late Adulthood

Source of funding information


Australian Research Council

Total sum awarded (Euro)


€ 110,067

Start date of award


01/01/2015

Total duration of award in years


3

Keywords


Research Abstract


The project aims to examine links between cognitive changes and financial decision-making in late adulthood and also to assess the preparedness of the elderly to combat financial risks due to age-related cognitive decline. Further, it intends to examine how age, education, wealth, health, and other environmental factors influence transfer of financial decision-making responsibilities to spouses or others. It is expected that the research will provide a greater understanding of how cognitive functioning and other factors affect older adults’ financial capacity and willingness to delegate decision-making responsibilities. This understanding could be used to inform policy initiatives to protect elderly individuals and their family members from the risk of financial mismanagement.

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