Consequences of regret aversion: effects of expected feedback on risky decision making
Article Abstract:
Three experiments were conducted to demonstrate the impact of anticipated regret on risky decision making when expected feedback is controlled. The risky or safe gamble as a regret-minimizing choice was controlled in the experiments, by controlling which gambles would be resolved. Results indicate that subjects tend to select the regret-minimizing gamble in both gains and losses and in both relatively high risk and relatively low-risk pair of gambles.
Publication Name: Organizational Behavior & Human Decision Processes
Subject: Psychology and mental health
ISSN: 0749-5978
Year: 1996
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Inaction inertia, regret, and valuation: a closer look
Article Abstract:
Influence of regret on inaction inertia is examined. Inertia inaction refers to the likelihood of acting on an attractive opportunity after missing an even better opportunity. Evidence reveals that missing of first opportunity devaluates the opportunity arising later.
Publication Name: Organizational Behavior & Human Decision Processes
Subject: Psychology and mental health
ISSN: 0749-5978
Year: 2006
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On the psychology of 'if only': regret and the comparison between factual and counterfactual outcomes
Article Abstract:
The factors that impact regret in decision making are examined.
Publication Name: Organizational Behavior & Human Decision Processes
Subject: Psychology and mental health
ISSN: 0749-5978
Year: 2005
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- Abstracts: A change-of-process theory for contextual effects and preference reversals in risky decision making. Tests of rank-dependent utility and cumulative prospect theory in gambles represented by natural frequencies: Effect of format event framing, and branch splitting
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- Abstracts: On the practical significance of hindsight bias: the case of the expectancy-disconfirmation model of consumer satisfaction