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Regret and the control of temporary preferences

Published online by Cambridge University Press:  25 October 2005

Terry Connolly  and
Jochen Reb
Terry Connolly*
Affiliation:
Department of Management and Policy, The Eller College, University of Arizona, Tucson, AZ85721
Jochen Reb*
Affiliation:
Singapore Management University, Lee Kong Chian School of Business, Singapore178899
*
connolly@email.arizona.edu
jochenreb@smu.edu.sg
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Abstract

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Regret is often symptomatic of the defective decisions associated with “temporary preference” problems. It may also help overcome these defects. Outcome regret can modify the relative utilities of different payoffs. Process regret can motivate search for better decision processes or trap-evading strategies. Heightened regret may thus be functional for control of these self-defeating choices.

Type
Open Peer Commentary
Information
Behavioral and Brain Sciences , Volume 28 , Issue 5 , October 2005 , pp. 653 - 654
Copyright
Copyright © Cambridge University Press 2005