Answer: Mostly False - Wisdom is a very illusive concept. Few studies have been conducted concerning wisdom and age as wisdom is difficult to define. A few studies have sought to define the concept of wisdom and test for age differences. Research out of the Max Planck Institute in Berlin defines wisdom as an "expert judgement system in the fundamental pragmatics of life." Individuals possessing wisdom exercise insight, judgement, self-knowledge, and the ability to effectively manage their lives. Using this definition, the research has not found that older adults perform any better than younger adults. In other words, there are individuals both young and old who possess wisdom. It should be noted however that some of the highest scorers were older adults.