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Consequences of regret aversion in real life: The case of the Dutch postcode lottery

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  • Zeelenberg, Marcel
  • Pieters, Rik

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  • Zeelenberg, Marcel & Pieters, Rik, 2004. "Consequences of regret aversion in real life: The case of the Dutch postcode lottery," Organizational Behavior and Human Decision Processes, Elsevier, vol. 93(2), pages 155-168, March.
  • Handle: RePEc:eee:jobhdp:v:93:y:2004:i:2:p:155-168
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    References listed on IDEAS

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    1. David E. Bell, 1983. "Risk Premiums for Decision Regret," Management Science, INFORMS, vol. 29(10), pages 1156-1166, October.
    2. Zeelenberg, Marcel & Beattie, Jane, 1997. "Consequences of Regret Aversion 2: Additional Evidence for Effects of Feedback on Decision Making," Organizational Behavior and Human Decision Processes, Elsevier, vol. 72(1), pages 63-78, October.
    3. Larrick, Richard P. & Boles, Terry L., 1995. "Avoiding Regret in Decisions with Feedback: A Negotiation Example," Organizational Behavior and Human Decision Processes, Elsevier, vol. 63(1), pages 87-97, July.
    4. Ritov, Ilana & Baron, Jonathan, 1995. "Outcome Knowledge, Regret, and Omission Bias," Organizational Behavior and Human Decision Processes, Elsevier, vol. 64(2), pages 119-127, November.
    5. Loomes, Graham & Sugden, Robert, 1982. "Regret Theory: An Alternative Theory of Rational Choice under Uncertainty," Economic Journal, Royal Economic Society, vol. 92(368), pages 805-824, December.
    6. Ritov, Ilana, 1996. "Probability of Regret: Anticipation of Uncertainty Resolution in Choice," Organizational Behavior and Human Decision Processes, Elsevier, vol. 66(2), pages 228-236, May.
    7. Zeelenberg, M., 1999. "Anticipated regret, expected feedback and behavioral decision-making," Other publications TiSEM 38371d1b-31fd-45b0-860f-b, Tilburg University, School of Economics and Management.
    8. Ajzen, Icek, 1991. "The theory of planned behavior," Organizational Behavior and Human Decision Processes, Elsevier, vol. 50(2), pages 179-211, December.
    9. J. Jeffrey Inman & James S. Dyer & Jianmin Jia, 1997. "A Generalized Utility Model of Disappointment and Regret Effects on Post-Choice Valuation," Marketing Science, INFORMS, vol. 16(2), pages 97-111.
    10. Feldman, Julie & Miyamoto, John & Loftus, Elizabeth F., 1999. "Are Actions Regretted More Than Inactions?, , , , ," Organizational Behavior and Human Decision Processes, Elsevier, vol. 78(3), pages 232-255, June.
    11. Clotfelter, Charles T & Cook, Philip J, 1991. "Lotteries in the Real World," Journal of Risk and Uncertainty, Springer, vol. 4(3), pages 227-232, July.
    12. Shefrin, Hersh & Statman, Meir, 1985. " The Disposition to Sell Winners Too Early and Ride Losers Too Long: Theory and Evidence," Journal of Finance, American Finance Association, vol. 40(3), pages 777-790, July.
    13. Sheppard, Blair H & Hartwick, Jon & Warshaw, Paul R, 1988. " The Theory of Reasoned Action: A Meta-analysis of Past Research with Recommendations for Modifications and Future Research," Journal of Consumer Research, Oxford University Press, vol. 15(3), pages 325-343, December.
    14. Zeelenberg, Marcel & Beattie, Jane & van der Pligt, Joop & de Vries, Nanne K., 1996. "Consequences of Regret Aversion: Effects of Expected Feedback on Risky Decision Making," Organizational Behavior and Human Decision Processes, Elsevier, vol. 65(2), pages 148-158, February.
    15. Connolly, Terry & Reb, Jochen, 2003. "Omission bias in vaccination decisions: Where's the "omission"? Where's the "bias"?," Organizational Behavior and Human Decision Processes, Elsevier, vol. 91(2), pages 186-202, July.
    16. Baron, Jonathan & Ritov, Ilana, 1994. "Reference Points and Omission Bias," Organizational Behavior and Human Decision Processes, Elsevier, vol. 59(3), pages 475-498, September.
    17. Boles, Terry L. & Messick, David 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, Elsevier, vol. 61(3), pages 262-275, March.
    18. Zeelenberg, M. & van Dijk, E. & van den Bos, K. & Pieters, R., 2002. "The inaction effect in the psychology of regret," Other publications TiSEM a29106c0-2319-4f60-b213-8, Tilburg University, School of Economics and Management.
    19. Shapira, Zur & Venezia, Itzhak, 1992. "Size and frequency of prizes as determinants of the demand for lotteries," Organizational Behavior and Human Decision Processes, Elsevier, vol. 52(2), pages 307-318, July.
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    Cited by:

    1. Adam, Marc T.P. & Kroll, Eike B. & Teubner, Timm, 2014. "A note on coupled lotteries," Economics Letters, Elsevier, vol. 124(1), pages 96-99.
    2. Manuel Bagues & Berta Esteve-Volart, 2016. "Politicians’ Luck of the Draw: Evidence from the Spanish Christmas Lottery," Journal of Political Economy, University of Chicago Press, vol. 124(5), pages 1269-1294.
    3. Javad Nasiry & Ioana Popescu, 2012. "Advance Selling When Consumers Regret," Management Science, INFORMS, vol. 58(6), pages 1160-1177, June.
    4. Bar-Eli, Michael & Azar, Ofer H. & Ritov, Ilana & Keidar-Levin, Yael & Schein, Galit, 2007. "Action bias among elite soccer goalkeepers: The case of penalty kicks," Journal of Economic Psychology, Elsevier, vol. 28(5), pages 606-621, October.
    5. Peter Katuscak & Fabio Michelucci & Miroslav Zajicek, 2013. "Does Anticipated Regret Really Matter? Revisiting the Role of Feedback in Auction Bidding," CERGE-EI Working Papers wp487, The Center for Economic Research and Graduate Education - Economics Institute, Prague.
    6. George, Jennifer M. & Dane, Erik, 2016. "Affect, emotion, and decision making," Organizational Behavior and Human Decision Processes, Elsevier, vol. 136(C), pages 47-55.
    7. Bruce I. Carlin & David T. Robinson, 2009. "Fear and loathing in Las Vegas: Evidence from blackjack tables," Judgment and Decision Making, Society for Judgment and Decision Making, vol. 4(5), pages 385-396, August.
    8. van der Swaluw, Koen & Lambooij, M. & Mathijssen, Jolanda & Schipper, M. & Zeelenberg, Marcel & Berkhout, S. & Polder, Johan & Prast, Henriette, 2018. "Physical Activity after Commitment Lotteries : Examining Long-Term Results in a Cluster Randomized Trial," Discussion Paper 2018-006, Tilburg University, Center for Economic Research.
    9. Gollier, Christian, 2016. "Aversion to risk of regret and preference for positively skewed risks," TSE Working Papers 16-646, Toulouse School of Economics (TSE), revised Sep 2016.
    10. Einav Hart & Yaakov Kareev & Judith Avrahami, 2012. "Reversal of Risky Choice in a Good versus a Bad World," Discussion Paper Series dp619, The Federmann Center for the Study of Rationality, the Hebrew University, Jerusalem.
    11. Kocher, Martin G. & Krawczyk, Michal & van Winden, Frans, 2014. "‘Let me dream on!’ Anticipatory emotions and preference for timing in lotteries," Journal of Economic Behavior & Organization, Elsevier, vol. 98(C), pages 29-40.
    12. repec:gam:jsusta:v:9:y:2017:i:6:p:1069-:d:102066 is not listed on IDEAS
    13. repec:spr:grdene:v:22:y:2013:i:3:d:10.1007_s10726-012-9282-x is not listed on IDEAS
    14. Emel Filiz & Erkut Y. Ozbay, 2005. "Auctions with Anticipated Regret," Experimental 0511006, University Library of Munich, Germany.
    15. Anastasios KONSTANTINIDIS & Androniki KATARACHIA & George BOROVAS & Maria Eleni VOUTSA, 2012. "From Efficient Market Hypothesis To Behavioural Finance: Can Behavioural Finance Be The New Dominant Model For Investing?," Scientific Bulletin - Economic Sciences, University of Pitesti, vol. 11(2), pages 16-26.
    16. Gül Özerol & Esra Karasakal, 2008. "A Parallel between Regret Theory and Outranking Methods for Multicriteria Decision Making Under Imprecise Information," Theory and Decision, Springer, vol. 65(1), pages 45-70, August.
    17. Wen-Hsien Huang & Marcel Zeelenberg, 2012. "Investor regret: The role of expectation in comparing what is to what might have been," Judgment and Decision Making, Society for Judgment and Decision Making, vol. 7(4), pages 441-451, July.
    18. Krähmer, Daniel & Stone, Rebecca, 2005. "Regret in Dynamic Decision Problems," Discussion Paper Series of SFB/TR 15 Governance and the Efficiency of Economic Systems 71, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich.
    19. van de Ven, N. & Zeelenberg, M. & Pieters, R., 2011. "Why envy outperforms admiration," Other publications TiSEM 050158fe-be6d-48e8-8a93-5, Tilburg University, School of Economics and Management.
    20. Gollier, Christian, 2016. "Explaining rank-dependent utility with regret and rejoicing," IDEI Working Papers 863, Institut d'Économie Industrielle (IDEI), Toulouse.

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