Choice and the relative pleasure of consequences

Psychological Bulletin

Volumn 126, Issue 6, 2000, Pages 910-924

  Meilers, Barbara A ^a  

^a OHIO STATE UNIVERSITY   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

ANIMAL; DECISION MAKING; HIGH RISK BEHAVIOR; HUMAN; PATHOLOGICAL GAMBLING; PSYCHOANALYTIC THEORY; PSYCHOLOGICAL ASPECT; REVIEW; THEORETICAL MODEL;

ANIMALS; CHOICE BEHAVIOR; DECISION MAKING; GAMBLING; HUMANS; MODELS, THEORETICAL; PLEASURE-PAIN PRINCIPLE; RISK-TAKING;

EID: 0034329674     PISSN: 00332909     EISSN: None     Source Type: Journal    
DOI: 10.1037/0033-2909.126.6.910     Document Type: Article

References (122)

1. Allais, M. (1953). Le comportement de l'homme rationnel devant le risque: critque des postulats et axiomes de l'ecole americaine [The foundations of a positive theory of choice involving risk and a criticism of the postulates and axioms of the American school]. Econometrica, 21, 503-546.
2. Ariely, D. (1998). Combining experiences over time: The effects of duration, intensity changes, and on-line measurements on retrospective pain evaluations. Journal of Behavioral Decision Making, 11, 19-45.
3. Baron, J., & Ritov, I. (1994). Reference points and omission bias. Organizational Behavior and Human Decision Processes, 59, 475-498.
4. Bell, D. E. (1982). Regret in decision making under uncertainty. Operations Research, 30, 961-981.
5. Bell, D. E. (1985). Disappointment in decision making under uncertainty. Operations Research, 33, 1-27.
6. Bentham, J. (1948). An introduction to the principles of morals and legislation. Oxford, England: Blackwell. (Original work published 1789)
7. Bernoulli, D. (1954). Specimen theoriae novae de mensura sortis [Exposition of a new theory on the measurement of risk]. Econometrica, 22, 23-36. (Original work published 1738)
8. Birnbaum, M. H., & McIntosh, W. R. (1996). Violations of branch independence in choices between gambles. Organizational Behavior and Human Decision Processes, 67, 91-110.
9. Birnbaum, M. H., & Stegner, S. E. (1979). Source credibility in social judgment: Bias, expertise, and the judge's point of view. Journal of Personality and Social Psychology. 37, 48-74.
10. Boles, T. L., & Messick, D. M. (1995). Reverse outcome bias: The influence of multiple reference points on the evaluations of outcomes and decisions. Organizational Behavior and Human Decision Processes, 61, 262-275.
11. Bower, G. H. (1981). Mood and memory. American Psychologist, 36, 129-148.
12. Brickman, P., Coates, D., & Janoff-Bulman, R. (1978). Lottery winners and accident victims: Is happiness relative? Journal of Personality and Social Psychology, 36, 917-927.
13. Buunk, B. P., Collins, R. L., Taylor, S. E., Van Yperen, N. W., & Dakof, G. A. (1990). The affective consequences of social comparison: Either direction has its ups and downs. Journal of Personality and Social Psychology, 59, 1238-1249.
14. Cacioppo, J. T., & Bernston, G. G. (1994). Relationship between attitudes and evaluative space: A critical review, with emphasis on the separability of positive and negative substrates. Psychological Bulletin, 115, 401-423.
15. Chechile, R., & Cooke, A. C. (1996). An experimental test of a general class of utility models: Evidence for context dependency. Journal of Risk and Uncertainty, 14, 75-93.
16. Clore, G. L., & Parrott, W. G. (1991). Moods and their vicissitudes: Thoughts and feelings as information. In J. Forgas (Ed.), Emotion and social judgment (pp. 107-123). Oxford, England: Pergamon Press.
17. Clore, G. L., Schwarz, N., & Conway, M. (1994). Emotion and information processing. In R. S. Wyer & T. K. Srull (Eds.), Handbook of social cognition (2nd ed., pp. 323-417). Hillsdale, NJ: Erlbaum.
18. Darwin, C. (1872). The expression of emotions in man and animals. New York: Philosophical Library.
19. de Finelti, B. (1937). La prevision: ses lois logiques, ses sources subjectives [Foresight: Its logical laws, its subjective sources]. Annales de l'Institute Henri Poincaré, 7, 1-68.
20. de Sousa, R. (1987). The rationality of emotions. Cambridge, MA: MIT University Press.
21. Dhar, R. (1997). Consumer preference for a non-choice option. Journal of Consumer Research, 24, 215-231.
22. Edgeworth. F. Y. (1881). Mathematical psychics. London: Kegan Paul.
23. Edwards, W. (1954). The theory of decision making. Psychological Bulletin, 51, 380-417.
24. Edwards, W. (1992). Utility theories: Measurements and applications. Boston: Kluwer.
25. Ellsberg, D. (1961). Risk, ambiguity, and the Savage axioms. Quarterly Journal of Economics, 75, 643-669.
26. Fiedler, K. (1988). Emotional mood, cognitive style, and behavioral regulation. In K. Fielder & J. Forgas (Eds.), Affect, cognition, and social behavior (pp. 100-119). Toronto, Ontario, Canada: Hogrefe International.
27. Fischhoff, B., Lichtenstein, S., Slovic, P., Derby, S. C., & Keeney, R. L. (1981). Acceptable risk. Cambridge, England: Cambridge University Press.
28. Fishburn, P. C. (1988). Nonlinear preference and utility theory. Baltimore: Johns Hopkins University Press.
29. Forgas, J. P. (1992). Affect in social judgments and decisions: A multiprocess model. Advances in Experimental Social Psychology, 25, 227-275.
30. Forgas, J. P., & Bower, G. H. (1987). Mood effects on person perception judgments. Journal of Personality and Social Psychology, 53, 53-60.
31. Frank, R. (1988). Passions within reason. New York: Norton.
32. Fridja, N. H. (1986). The emotions. Cambridge, England: Cambridge University Press.
33. Gavanski, I., & Wells, G. (1989). Counterfactual processing of normal and exceptional events. Journal of Experimental Social Psychology, 25, 314-325.
34. Gilbert, D. T., Pinel, E. C., Wilson, T. C., Blumberg, S. J., & Wheatley, T. P. (1998). Immune neglect: A source of durability bias in affective forecasting. Journal of Personality and Social Psychology, 75, 617-638.
35. Gilovich, T., & Medvec, V. (1995). The experience of regret: What, why, and when. Psychological Review, 102, 379-395.
36. Gleicher, F., Kost, K., Baker, S. M., Strathman, A. J., Richman, S. A., & Sherman, S. J. (1990). The role of Counterfactual thinking in judgments of affect. Personality and Social Psychology Bulletin, 16, 284-295.
37. Gorn, G., Pham, M. T., & Sin, L. Y. (2000). When arousal influences an evaluation and valence does not (and vice versa). Unpublished manuscript.
38. Gul, F. (1991). A theory of disappointment aversion. Econometrica, 59, 667-686.
39. Hsee, C. K., & Abelson, R. P. (1991). Velocity relation: Satisfaction as a function of the first derivative of outcome over time. Journal of Personality and Social Psychology, 60, 341-347.
40. Hsee, C. K., Abelson, R. P., & Salovey, P. (1991). The relative weighting of position and velocity in satisfaction. Psychological Science, 2, 263-266.
41. Inman, J. J., Dyer, J. S., & Jia, J. (1997). A generalized utility model of disappointment and regret effects on post-choice valuation. Marketing Science, 6, 97-111.
42. Inman, J. J., & Zeelenberg, M. (2000). "Would I rather fight than switch?": Consumer regret following switch versus repeat decisions in outcome sequences. Unpublished manuscript.
43. Isen, A. M. (1993). Positive affect and decision making. In M. Lewis & J. M. Haviland (Eds.), Handbook of emotions (pp. 261-277). New York: Guilford Press.
44. Janis, I. L., & Mann, L. (1977). Decision making. New York: Free Press.
45. Jevons, W. S. (1871). The theory of political economy. London: Macmillan.
46. Johnson, E., & Tversky, A. (1983). Affect, generalization, and the perception of risk. Journal of Personality and Social Psychology, 45, 20-31.
47. 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.
48. Kahneman, D. (in press). Evaluation by moments: Past and future. In D. Kahneman & A. Tversky (Eds.), Choices, values, and frames. New York: Cambridge University Press.
49. Kahneman, D., & Miller, D. (1986). Norm theory: Comparing reality to its alternatives. Psychological Review, 93, 136-153.
50. Kahneman, D., & Tversky, A. (1979). Prospect theory. Econometrica, 47, 263-292.
51. Kahneman, D., & Tversky, A. (1982, January). The psychology of preferences. Scientific American, 246, 160-173.
52. Keinan, G. (1987). Decision making under stress: Scanning of alternatives under controllable and uncontrollable threats. Journal of Personality and Social Psychology, 52, 639-644.
53. Landman, J. (1987). Regret and elation following action and inaction: Affective responses to positive versus negative outcomes. Personality and Social Psychology Bulletin, 13, 524-536.
54. Langer, E. (1975). The illusion of control. Journal of Personality and Social Psychology, 32, 311-328.
55. 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.
56. Lazarus, R. (1991). Emotions and adaptation. New York: Oxford University Press.
57. Le Doux, J. E. (1996). The emotional brain. New York: Simon & Schuster.
58. Lerner, J., & Kellner, D. (in press). Beyond valence: Toward a model of emotion-specific influences on judgment and choice. Cognition and Emotion.
59. Levine, L. J. (1997). Reconstructing memory for emotions. Journal of Experimental Psychology: General, 126, 165-177.
60. Loewenstein, G. (1996). Out of control: Visceral influences on behavior. Organizational Behavior and Human Decision Processes, 65, 272-292.
61. Loewenstein, G., & Schkade, D. (1999). Wouldn't it be nice? Predicting future feelings. In E. Diener, N. Schwarz, & D. Kahneman (Eds.), Hedonic psychology: Scientific approaches to enjoyment, suffering, and well-being (pp. 85-105). New York: Russell Sage Foundation.
62. Loewenstein, G., Weber, E., Hsee, C., & Welch, E. (1999). Risk as feelings. Unpublished manuscript.
63. Loomes, G., & Sugden, R. (1982). Regret theory: An alternative of rational choice under uncertainty. Economic Journal, 92, 805-824.
64. Loomes, G., & Sugden, R. (1986). Disappointment and dynamic consistency in choice under uncertainty. Review of Economic Studies, 53, 271-282.
65. Loomes, G., & Sugden, R. (1987). Testing for regret and disappointment in choice under uncertainty. Economic Journal, 97, 118-129.
66. Lopes, L. L. (1984). Risk and distributional inequality. Journal of Experimental Psychology: Human Perception and Performance, 10, 465-485.
67. Lopes, L. L. (1987). Between hope and fear: The psychology of risk. Advances in Experimental Social Psychology, 20, 255-295.
68. Lopes, L. L. (1990). Re-modeling risk aversion: A comparison of Bernoullian and rank dependent value approaches. In G. M. von Furstenberg (Ed.), Acting under uncertainty: Multidisciplinary conceptions (pp. 267-299). Boston: Kluwer.
69. Luce, M. (1998). Choosing to avoid: Coping with negatively emotionladen consumer decisions. Journal of Consumer Research, 24, 409-431.
70. Luce, M., Bettman, J., & Payne, J. (1997). Choice processing in emotionally difficult decisions. Journal of Experimental Psychology: Learning, Memory, and Cognition, 23, 384-405.
71. Luce, M., Payne, J., & Bettman, J. (1999). Emotional tradeoff difficulty and choice. Journal of Marketing Research, 26, 143-159.
72. Luce, R. D. (1977). The choice axiom after twenty years. Journal of Mathematical Psychology, 15, 215-233.
73. Luce, R. D. (1991). Rank- and sign-dependent linear utility models for binary gambles. Journal of Economic Theory. 53, 75-100.
74. Luce, R. D. (2000). Utility of gains and losses: Measurement-theoretical and experimental approaches. Hillsdale, NJ: Erlbaum.
75. Luce, R. D., & Fishburn, P. C. (1991). Rank- and sign-dependent linear utility models for finite first-order gambles. Journal of Risk and Uncertainty, 4, 29-59.
76. Luce, R. D., & Fishburn, P. C. (1995). A note on deriving rank-dependent utility using additive joint receipt. Journal of Risk and Uncertainty, 11, 5-16.
77. Markman, K., Gavanski, I., Sherman, S. J., & McMullen, M. (1995). The impact of perceived control on the imagination of better and worse possible worlds. Personality and Social Psychology Bulletin, 6, 588-595.
78. Markowitz, H. (1952). The utility of wealth. Journal of Political Economy, 60, 151-158.
79. Marshall, A. (1890). Principles of economics. London: Macmillan.
80. McFarland, C., & Ross, M. (1987). The relation between current impressions and memories of self and dating partners. Personality and Social Psychology Bulletin, 13, 228-238.
81. McGraw, A. P., Mellers, B. A., & Ritov, I. (2000). Emotions and expectations in sports. Manuscript in preparation.
82. Mellers, B. A., & Biagini, K. (1994). Similarity and choice. Psychological Review, 101, 505-518.
83. Mellers, B. A., & McGraw, A. P. (2000). Anticipated pleasure, actual pleasure and utilities. Manuscript in preparation.
84. Mellers, B. A., & Ness, R. (2000). Confidence and the pleasure of outcomes. Manuscript in preparation.
85. Mellers, B. A., Schwartz, A., Ho, K., & Ritov, I. (1997). Elation and disappointment: Emotional responses to risky options. Psychological Science, 8, 423-429.
86. Mellers, B. A. , Schwartz, A., & Ritov, I. (1999). Emotion-based choice. Journal of Experimental Psychology: General, 128, 332-345.
87. Mellers, B. A., & Tishchenko, S. (2000). How levels and trends influence pleasure. Manuscript in preparation.
88. Menger, C. (1871). Grundatze der Volkswirthschaftslehre [Principles of economics]. Vienna: W. Braumuller.
89. Miller, D. T., Turnbull, W., & McFarland, C. (1989). When a coincidence is suspicious: The role of mental simulation. Journal of Personality and Social Psychology, 57, 581-589.
90. Nygren, T. E., Isen, A. M., Taylor, P. J., & Dulin, J. (1996). The influence of positive affect on the decision rule in risk situations. Organizational Behavior and Human Decision Processes, 66, 59-72.
91. Parker, D., Stradling, S. G., & Manstead, A. S. R. (1996). Modifying beliefs and attitudes toward exceeding the speed limit: An intervention study based on the theory of planned behavior. Journal of Applied Social Psychology, 26, 1-19.
92. Peters, E., & Slovic, P. (1996). The role of affect and world views as orienting dispositions in the perception and acceptance of nuclear power. Journal of Applied Social Psychology, 26, 1427-1453.
93. Peters, E., & Slovic, P. (1999) The springs of action: Affective and analytical information processing in choice (Report No. 99-1). Eugene, OR: Decision Research.
94. Quiggin, J. (1982). A theory of anticipated utility. Journal of Economic Behavior and Organization, 3, 324-345.
95. Ritov, I. (1996). Probability of regret: Anticipation of uncertainty resolution in choice. Organizational Behavior and Human Decision Processes, 66, 228-236.
96. Ritov, I., & Baron, J. (1990). Reluctance to vaccinate: Omission bias and ambiguity. Journal of Behavioral Decision Making, 3, 263-277.
97. Ritov, I., & Baron, J. (1995). Outcome knowledge, regret, and omission bias. Organizational Behavior and Human Decision Processes, 64, 119-127.
98. Roese, N. J., & Olson, J. M. (Eds.). (1995). What might have been: The social psychology of counterfactual thinking. Mahwah, NJ: Erlbaum.
99. Savage, L. J. (1954). The foundations of statistics. New York: Wiley.
100. Scherer, K. R. (1984). On the nature and function of emotion: A component process approach. In K. R. Scherer & P. Ekman (Eds.), Approaches to emotion. (pp. 293-318). Hillsdale, NJ: Erlbaum.
101. Schkade, D. A., & Kahneman, D. (1998). Does living in California make people happy? A focusing illusion in judgments of life satisfaction. Psychological Science, 9, 340-346.
102. Schneider, S., & Lopes, L. (1986). Reflection in preferences under risk: Who and when may suggest why. Journal of Experimental Psychology: Human Learning and Performance, 12, 535-548.
103. Schwarz, N., Bless, B., & Bohner, G. (1991). Mood and persuasion: Affective states influence the processing of persuasive communications. In M. Zanna (Ed.). Advances in experimental social psychology (Vol. 24, pp. 161-199). San Diego, CA: Academic Press.
104. Simonson, I. (1992). The influence of anticipating regret and responsibility on purchase decisions. Journal of Consumer Research, 19, 1-14.
105. Stigler, G. J. (1950). The development of utility theory. Journal of Political Economics, 58, 307-327, 373-396.
106. Stigler, S. M. (1986). The history of statistics: The measurement of uncertainty before 1900. Cambridge, MA: Belknap Press.
107. Tesser, A. (1988). Toward a self-evaluation maintenance model of social behavior. In L. Berkowitz (Ed.), Advances in experimental social psychology (Vol. 21, pp. 181-227). New York: Academic Press.
108. Tetlock, P. E. (1986). A value pluralism model of ideological reasoning. Journal of Personality and Social Psychology: Personality Processes and Individual Differences, 50, 819-827.
109. Tetlock, P. E., & Boettger, R. (1994). Accountability amplifies the status quo effect when change creates victims. Journal of Behavioral Decision Making, 7, 1-23.
110. Thaler, R. (1985). Mental accounting and consumer choice. Marketing Science, 4, 199-214.
111. Thaler, R., & Johnson, E. (1990). Gambling with the house money and trying to break even: The effects of prior outcomes on risky choice. Management Science, 36, 643-660.
112. Tversky, A., & Kahneman, D. (1992). Advances in prospect theory: Cumulative representation of uncertainty. Journal of Risk and Uncertainty, 5, 297-323.
113. Tversky, A., & Shafir, E. (1992). Choice under conflict: The dynamics of deferred decisions. Psychological Science, 6, 358-361.
114. von Neumann, J., & Morgenstern, O. (1947). Theory of games and economic behavior. Princeton. NJ: Princeton University Press.
115. Wakker, P. C. (1990). Characterizing optimism and pessimism directly through comonotonicity. Journal of Economic Theory, 52, 453-463.
116. Walras, L. (1874). Elements d'economie politique pure [Elements of pure economics or the theory of social wealth]. Lausanne, Switzerland: Corbas.
117. Wright, W., & Bower, G. (1992). Mood effects on subjective probability assessment. Organizational Behavior and Human Decision Processes, 52, 276-291.
118. Yaari, M. (1987). The dual theory of choice under risk. Econometrica, 55, 95-115.
119. Yates, J. F. (1990). Judgment and decision making. Englewood Cliffs, NJ: Prentice Hall.
120. Zeelenberg, M., & Beanie, J. (1997). Consequences of regret aversion 2: Additional evidence for effects of feedback on decision making. Organizational Behavior and Human Decision Processes, 71, 1-16.
121. Zeelenberg, M., Beattie, J., van der Plight, J., & de Vries, N. (1996). Consequences of regret aversion: Effects of expected feedback on risky decision making. Organizational Behavior and Human Decision Processes, 65, 148-158.
122. Zeelenberg, M., van Dijk, W. W., Manstead, A. S. R., & van der Pligt, J. (in press). On bad decisions and discontinued expectancies: The psychology of regret and disappointment. Cognition and Emotion.