Maximizing is a decision strategy that seeks the very best option, which is more elaborate and potentially more regret … findings suggest that older adults could possibly be opting for decision strategies that make them happier. We discuss … implications for interventions that aim to improve decision making …

, that is, net marginal utility be zero. The finding can be (and has been) explained by decision error, that is, a failure in … forecasting the well-being consequences of an act of choice. This paper uses the rational-choice decision-error framework to show … observed PEB levels due to decision error, then net marginal SWB from a PEB is increasing in its marginal costs. The ability of …