Consequences of regret aversion: Effects of expected feedback on risky decision making

Organizational Behavior and Human Decision Processes

Volumn 65, Issue 2, 1996, Pages 148-158

  Zeelenberg, Marcel ^a   Beattie, Jane ^b   Van Der Pligt, Joop ^a   De Vries, Nanne K ^a  

^a UNIVERSITY OF AMSTERDAM   (Netherlands)

^b UNIVERSITY OF SUSSEX   (United Kingdom)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 0030078497     PISSN: 07495978     EISSN: None     Source Type: Journal    
DOI: 10.1006/obhd.1996.0013     Document Type: Article

References (30)

1. Beattie, J., Baron, J., Hershey, J. C., & Spranca, M. D. (1994). Psychological determinants of decision attitude. Journal of Behavioral Decision Making, 7, 129-144.
2. Bell, D. E. (1982). Regret in decision making under uncertainty. Operations Research, 30, 961-981.
3. Bell, D. E. (1983). Risk premiums for decision regret. Management Science, 29, 1156-1166.
4. Bell, D. E. (1985). Putting a premium on regret. Management Science, 31, 117-120.
5. Boles, T. L., & Messick, D. M. (1995). A reverse outcome bias: The influence of multiple reference points on the evaluation of outcomes and decisions. Organizational Behavior and Human Decision Processes, 61, 262-275.
6. Frey, D. (1986). Recent research on selective exposure to information. Advances in Experimental Social Psychology, 19, 41-80.
7. Gilovich, T., & Medvec, V. H. (1995). The experience of regret: what, when and why. Psychological Review, 102, 379-395.
8. Inman, J. J., Dyer, J. S., & Jia, J. (1995). A generalized utility model of disappointment and regret effects on post-purchase valuation. Manuscript under review.
9. Janis, I. L., & Mann, L. (1977). Decision making: A psychological analysis of conflict, choice, and commitment. New York: The Free Press.
10. Josephs, R. A., Larrick, R. P., Steele, C. M., & Nisbett, R. E. (1992). Protecting the self from the negative consequences of risky decisions. Journal of Personality and Social Psychology, 62, 26-37.
11. Kahneman, D., & Tversky, A. (1979). Prospect theory: An analysis of decision under risk. Econometrica, 47, 263-291.
12. Kardes, F. R. (1994). Consumer judgment and decision processes. In R. S. Wyer, Jr., and T. K. Srull (Eds.), Handbook of social cognition, 2nd edition, Volume 2. Hillsdale, NJ: Lawrence Erlbaum Associates.
13. Kelsey, D., & Schepanski, A. (1991). Regret and disappointment in taxpayer reporting decisions-an experimental study. Journal of Behavioral Decision Making, 4, 33-53.
14. Landman, J. (1993). Regret: The persistence of the possible. New York: Oxford Univ. Press.
15. Larrick, R. P. (1993). Motivational factors in decision theories: The role of self-protection. Psychological Bulletin, 113, 440-450.
16. Larrick, R. P., & Boles, T. L. (1995). Avoiding regret in decisions with feedback: a negotiation example. Organizational Behavior and Human Decision Processes, 63, 87-97.
17. Loomes, G., & Sugden, R. (1982). Regret Theory: An alternative theory of rational choice under uncertainty. Economic Journal, 92, 805-824.
18. Northcraft, G. B., & Ashford, S. J. (1990). The preservation of self in everyday life: The effects of performance expectations and feedback context on feedback inquiry. Organizational Behavior and Human Decision Processes, 47, 42-64.
19. Richard, R., van der Pligt, J., & de Vries, N. K. (1996). Anticipated regret and time perspective: Changing sexual risk-taking behaviour. Journal of Behavioral Decision Making, in press.
20. Ritov, I. (1996) Probability of regret: Anticipation of uncertainty resolution in choice. Organizational Behavior and Human Decision Processes, in press.
21. Ritov, I., & Baron, J. (1995). Outcome knowledge, regret, and omission bias. Organizational Behavior and Human Decision Processes, 64, 119-127.
22. Roese, N., & Olson, J. M. (1995). Counterfactual thinking: An overview. In N. Roese and J. M. Olson (Eds.), What might have been: The social psychology of counterfactual thinking. Hillsdale, NJ: Erlbaum.
23. Russo, J. E., & Schoemaker, P. J. (1989). Decision traps: The ten barriers to brilliant decision-making and how to overcome them. New York: Doubleday.
24. Sage, A. P., & White, F. B. (1983). Decision and information structures in regret: Models of judgment and choice. IEEE: Transitions on Systems, Man, and Cybernetics, 13, 136-143.
25. Savage, L. J. (1951). The theory of statistical decision. Journal of the American Statistical Association, 46, 55-67.
26. Simonson, I. (1992). The influence of anticipating regret and responsibility on purchase decisions. Journal of Consumer Research, 19, 105-118.
27. Sugden, R. (1985). Regret, recrimination and rationality. Theory and Decision, 19, 77-99.
28. Slovic, P. (1975). Choice between equally valued alternatives. Journal of Experimental Psychology: Human Perception and Performance, 1, 280-287.
29. Taylor, S. E. (1991). Asymmetrical effects of positive and negative effects: The mobilization-minimization hypothesis. Psychological Bulletin, 110, 67-85.
30. Tversky, A., Sattah, S., & Slovic, P. (1988). Contingent weighting in judgment and choice. Psychological Review, 95, 371-384.