No Time to Waste: Restricting Life‐Span Temporal Horizons Decreases the Sunk‐Cost Fallacy

In three studies, we examined the influence of restricted and expansive temporal horizons on the sunk‐cost fallacy. The sunk‐cost fallacy occurs when prior investments instead of future returns influence decisions about future investments. When making decisions about future investments, rational decision makers base decisions on future consequences, not already‐invested costs that are “sunk” and cannot be recovered. In Study 1, we restricted young adult college students' temporal horizons by instructing them to imagine that they did not have much longer to live; this manipulation decreased the sunk‐cost fallacy. In Study 2, we replicated Study 1 and also found that the consequences of manipulating temporal horizons were most pronounced for prior investments of time and that prior investments of time and money had different implications for the sunk‐cost fallacy, depending on the social or nonsocial decision domain. In Study 3, we manipulated temporal horizons by instructing students to imagine their time as a college student was coming to an end. Results were mostly similar to Study 2 but also suggested that focusing on one's mortality may have unique consequences. Implications of the three studies for understanding age differences in sunk‐cost decisions, interventions to improve sunk‐cost decisions, and the situations in which interventions might be most needed are discussed. Copyright © 2013 John Wiley & Sons, Ltd.     

Contextual Influences on Gender Segregation in Emerging Adulthood

To better understand contextual influences on gender segregation in emerging adulthood, we examined the extent to which college students (N?=?285; 178 females, 107 males) from the Mid-Atlantic region of the U.S. nominated same-gender peers when listing their close friends, preferred workmates for projects in English and math classes, and preferred partners for “hanging out.” We used an established, self-report measure to examine the relation between preferences to affiliate with same-gender peers and students’ gender-typed activity involvement (i.e., involvement in activities stereotypically associated with one’s own gender). The majority of close friends nominated by both women and men were same-gender peers, but men nominated relatively more same-gender friends than did women. Workmate nominations for class projects followed gender stereotypes. Women were least likely to nominate same-gender workmates for a math project compared to an English project or to “hang out.” Men were least likely to nominate same-gender workmates for a project in English compared to a math project or to “hang out.” For both women and men, nominating more same-gender friends and workmates was associated with less involvement in activities stereotypically associated with the other gender. The stability of emerging adults’ preferences for same-gender peers across contexts is discussed.     

Everyday Problem Solving: Experience, Strategies, and Behavioral Intentions

Experience and strategic flexibility predict performance on solving hypothetical everyday problems, although their relation to real-world behavior is largely unknown (e.g., M. Diehl, S. L. Willis, & K. W. Schaie, 1995). Moreover, few studies have examined highly salient, rare-event problems such as relocation decisions. This study tested whether experience and strategic flexibility, in addition to demographic variables, were related to intentions to relocate. Ninety-five adults (M age = 72.1 years) completed problem-solving vignettes, provided information regarding previous experience with problems related to living arrangements, and stated personal relocation intentions. Logistic regression analyses showed that both experience (Odds Ratio (OR) = 40.6) and the number of strategies generated (OR= 3.0) were significantly associated with an increased likelihood of considering a late-life relocation. The benefits of linking lab-based assessments of everyday problem solving to real-world behavior are discussed.     

Age differences in financial decision making: The benefits of more experience and less negative emotions

The emerging literature on aging and decision making posits that decision‐making competence changes with age, as a result of age differences in various cognitive and noncognitive individual‐differences characteristics. In a national life‐span sample from the United Kingdom (N = 926), we examined age differences in financial decisions, including performance measures of sunk cost and credit card repayment decisions, and self‐report measures of money management and financial decision outcomes. Participants also completed four individual‐differences characteristics that have been proposed as relevant to financial decision making, including two cognitive ones (numeracy and experience‐based knowledge) and two noncognitive ones (negative emotions about financial decisions). First, we examined how age was related to the four financial decision‐making measures and the four individual‐differences characteristics. Older age was correlated to better scores on each of the four financial decision‐making measures, more experience‐based knowledge, less negative emotions about financial decisions, whereas numeracy and motivation were not significantly correlated with age. Second, we found that considering both the two cognitive and the two noncognitive individual‐differences characteristics increased predictions of financial decision making, as compared with considering either alone. Third, we examined how these four individual‐differences characteristics contributed to age differences in financial decision making. Older adults' higher levels of experience‐based knowledge and lower levels of negative emotions seemed to especially benefit their financial decision making. We discuss implications for theories on aging and decision making, as well as for interventions targeting financial decisions.     

Sex segregation in friendships and normative contexts across the life span

Sex segregation (the separation of boys and girls into same-sex groups in their friendships and casual encounters; [Thorne, B., & Luria, Z. (1986). Sexuality and gender in children’s daily worlds. Social Problems, 33, 176–190]), has typically been viewed as a childhood phenomenon. In the present paper, we review research that suggests the phenomenon of sex segregation persists across the life span. We draw from a social-constructionist model to synthesize literature documenting sex segregation in friendships and aspects of individuals’ socio-cultural contexts in childhood, adolescence, and early and later adulthood. We consider developmental continuities in mechanisms that may be associated with sex segregation, including behavioral compatibility, communication styles, third-party resistance to other-sex relationships, and institutional barriers to other-sex relationships. We discuss how these factors may, through a reciprocal process, contribute to and result from sex segregation. Finally, we offer recommendations for future research.     

Dyad Gender Differences in Preadolescents' Creative Stories

This study extended research on gender differences in creative stories written by individuals to creative stories written in collaboration with a same- or an other-gender peer partner. Participants were 104 preadolescent sixth graders, mostly White and middle class. Same- and other-gender peer partners (18 girl, 16 boy, and 17 mixed-gender dyads) worked together for 4 weeks to write creative stories based on mystery pictures. Story ideas were coded into one of seven categories (i.e., overt aggression, verbal aggression, relational aggression, prosocial behavior, negative emotion, positive emotion, and neutral/other). Boy dyads' stories included a greater proportion of overtly aggressive story ideas and a lesser proportion of prosocial story ideas than did girl dyads' stories. Mixed-gender dyads' stories contained a greater proportion of prosocial ideas than did boy dyads' stories. Findings are discussed in light of a social-contextual approach to gender differences and similarities.     

Variability in Goals as a Function of Same-Sex and Other-Sex Contexts

The purpose of the study was to investigate how young adult men's and women's goals for interacting with peers changed as a function of the social situation (working with a same-sex or other-sex peer on a collaborative task). In a within-subjects design, 40 men and 40 women (Mean age = 19.5 years, SD = 2.10) worked with a man and a woman confederate to build a tower of blocks. Participants reported a greater proportion of mutual-participation goals (i.e., goals for working together with others) before the interaction than after the interaction. Men reported a higher proportion of mutual-participation goals in the other-sex context than in the same-sex context. Men and women reported a greater proportion of task-performance goals when working with a same-sex partner than with an other-sex partner. The contextual specificity of gender differences and similarities in goals is discussed.