Since ancient times, the elusive concept of wisdom has figured prominently in philosophical and religious texts. The question remains compelling: What is wisdom, and how does it play out in individual lives? Most psychologists agree that if you define wisdom as maintaining positive well-being and kindness in the face of challenges, it is one of the most important qualities one can possess to age successfully — and to face physical decline and death.

Vivian Clayton, a geriatric neuropsychologist in Orinda, Calif., developed a definition of wisdom in the 1970s, when she was a graduate student, that has served as a foundation for research on the subject ever since. After scouring ancient texts for evocations of wisdom, she found that most people described as wise were decision makers. So she asked a group of law students, law professors and retired judges to name the characteristics of a wise person. Based on an analysis of their answers, she determined that wisdom consists of three key components: cognition, reflection and compassion.

Unfortunately, research shows that cognitive functioning slows as people age. But speed isn’t everything. A recent study in Topics in Cognitive Science pointed out that older people have much more information in their brains than younger ones, so retrieving it naturally takes longer. And the quality of the information in the older brain is more nuanced. While younger people were faster in tests of cognitive performance, older people showed “greater sensitivity to fine-grained differences,” the study found.

It stands to reason that the more information people have in their brains, the more they can detect familiar patterns. Elkhonon Goldberg, a neuroscientist in New York and author of “The Wisdom Paradox,” says that “cognitive templates” develop in the older brain based on pattern recognition, and that these can form the basis for wise behavior and decisions.