Self-awareness for financial decision-making abilities in healthy adults.

ABSTRACT:

Objective

Decades of research have established how to measure metacognition (i.e., awareness of one's cognitive abilities), whereas relatively little is known about how to assess the integrity of financial awareness (FA; awareness of one's financial abilities), a related construct with practical implications for vulnerable older adults. The current study's goal was to apply established metacognitive frameworks to identify an objective measure of FA.

Methods

Metacognitive ratings were integrated into two financial decision making (FDM) assessments in order to derive two types of FA metrics: absolute accuracy (calibration) and relative accuracy (resolution) in each FDM task. Associations between each FA metric, demographic variables, FDM performances, and metamemory were exami

SUBMITTER: Sunderaraman P 

PROVIDER: S-EPMC7332073 | biostudies-literature | 2020

REPOSITORIES: biostudies-literature