Anika Josef, Ralph Hertwig, and I have a new paper out on cross-cultural differences in risk taking across the life span (abstract and reference below). We show that the typical age-risk curve varies systematically as a function of country characteristics. Specifically, we found that an index of hardship (i.e., an index of resource scarcity and, therefore, heightened competition in each country)  is significantly associated with the shape of the age-risk function: Hardship is associated with flatter age-risk curves and, consequently, smaller differences between younger and older individuals. We believe these results are important in helping portray life span differences in risk taking as psychological adaptations to local challenges and demands.

Propensity for Risk Taking Across the Life Span and Around the Globe

Past empirical work suggests that aging is associated with decreases in risk taking. But are such effects universal? Life-history theory suggests that the link between age and risk taking is a function of specific reproductive strategies that can be more or less risky depending on the ecology. We assessed variation in the age-risk curve using World Values Survey data from 77 countries (N = 147,118). The results suggest that propensity for risk taking tends to decline across the life span in the vast majority of countries. In addition, there is systematic variation among countries: Countries in which hardship (e.g., high infant mortality) is higher are characterized by higher levels of risk taking and flatter age-risk curves. These findings suggest that hardship may function as a cue to guide life-history strategies. Age-risk relations thus cannot be understood without reference to the demands and affordances of the environment.

Mata, R., Josef, A. K., & Hertwig, R. (2016). Propensity for risk taking across the life span and around the globe. Psychological Science. doi:10.1177/0956797615617811