When evaluating a program focused on the relationship between social and financial decision-making in older adults, consider the following five points:
Define program objectives: Clearly define the objectives of the program evaluation, specifying the desired outcomes related to social and financial decision-making in older adults. Determine the specific aspects of social decision-making (e.g., decision-making skills, social interactions, empathy) and financial decision-making (e.g., financial literacy, risk-taking behavior, financial well-being) that you aim to measure.
Select appropriate measurement tools: Choose reliable and validated measurement tools to assess social and financial decision-making. Consider utilizing established scales and assessments, such as the Iowa Gambling Task for measuring decision-making, financial literacy questionnaires, or surveys assessing financial well-being.
Recruit participants and collect data.: Recruit a sample of older adults to participate in the evaluation. Administer the selected measurement tools to assess their social and financial decision-making capabilities. Collect data on participants' decision-making skills, financial literacy, risk preferences, and social behaviors.
Analyze and interpret data.: Analyze the collected data to evaluate the relationship between social and financial decision-making in older adults. Look for correlations, associations, or patterns that emerge from the data. Use statistical methods such as correlation analysis, regression analysis, or factor analysis to examine the relationship between social and financial decision-making.
Consider contextual factors: Consider demographic, socioeconomic, and contextual factors that may influence the relationship between social and financial decision-making. Collect additional information about participants' socio-demographic characteristics, educational background, and social environment.
