The authors use data from the 1996 and 1997 EXCEL Omnibus Survey commissioned by the American Association of Retired Persons to investigate the receptiveness of consumers 50 years of age or older to telemarketing fraud. The authors investigate elderly consumers’ receptiveness to telemarketing fraud, as reflected by a consumer's psychological orientation (willingness to listen to sales pitch and attitude toward callers) and actual engagement in risky behavior (responding to unknown callers) using setwise regression. They conclude with policy implications.
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