ELDERLY CONSUMER DECISIONAL PROCESSES AND PUBLIC POLICY

The growing proportion of elderly consumers in the United States and western European countries suggests that public policy makers should direct increased attention to the information needs of this group. In this paper, a review of multi-disciplinary research reveals differences in the way that consumers of various ages process information, engage in risk-taking behaviour, seek out consumer information, and view business practices. These findings have major implications for the formulation of governmental information policies designed to benefit the elderly consumer. Besides indicating directions for additional research throughout, this paper concludes with recommendations for methodological improvements in further studies of this important subject.