Exploring the relationship between social activities and financial risk aversion in adults aged 50 + with depression caseness.

By overcoming the subjects' financial risk aversion, participation in social activities may help improve mental health in individuals aged 50 + with depression caseness. This has important implications for policymakers in healthcare, who by updating healthcare policies can fund and facilitate participation in social activities. As a result, the national healthcare system may benefit from lower hospitalization-related expenses, and generate higher cash flows into the country's economy using the population's renewed interest in investing available funds. These results are relevant in the wake of COVID-19 that increased loneliness and depression rates.