Research indicates that men are more risk tolerant and make riskier financial decisions than women. To explain this, researchers have favored “essentialist” explanations that attribute differences to core biological mechanisms and have tended to neglect psychological mechanisms that reflect...

Maximizing is a decision strategy that seeks the very best option, which is more elaborate and potentially more regret-inducing than choosing an option that is ‘good enough.’ In surveys with a large national sample, we find that older adults are less likely than younger adults to self-report...