People tend to overestimate emotional responses to future events. This study examined whether such affective forecasting errors occur for feelings of regret, as measured by self-report and subsequent decision-making. Some participants played a pricing game and lost by a narrow or wide margin, while others were asked to imagine losing by such margins. Participants who experienced a narrow loss reported more regret than those who imagined a narrow loss. Furthermore, those experiencing a narrow loss behaved more cautiously in a subsequent gambling task. Thus, the study provides self-report and behavioral evidence for a reversal of the affective forecasting phenomenon for feelings of regret.
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Volume (Year): 3 (2008) Issue (Month): 6 (August) Pages: 449-456 Download reference. The following formats are available: HTML
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Handle: RePEc:jdm:journl:v:3:y:2008:i:6:p:449-456
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