We studied four types of decisions with a potential for age effects. One feature of wisdom, which presumably is acquired over a lifetime, is meta-knowledge, accurately knowing one’s own knowledge and assessed this through self-reported confidence on answers to trivia questions. A common stereotype of older people is that they are “conservative, dislike taking risk, and are set in their ways”. We tested this stereotype using choices over monetary gambles similar to those performed by psychologists and biologists; the monetary gambles include incomplete and complete information designs (., where probabilities are known ex ante or unknown)
