Effects of experienced regret on risky decision making are dependent on risky degree
Bibliographic Data
| ID | 21392042 |
|---|---|
| Authors | Huiyan Lin (0000-0002-4897-6446, Laboratory for Behavioral and Regional Finance Guangdong University of Finance Guangzhou China, corresponding author), Jiafeng Liang (School of Education Guangdong University of Education Guangzhou China), Junkai Yang (0009-0002-3185-5469, Laboratory for Behavioral and Regional Finance Guangdong University of Finance Guangzhou China), Fei Wu (0000-0003-2139-8807, Laboratory for Behavioral and Regional Finance Guangdong University of Finance Guangzhou China, corresponding author) |
| Year | 2021 |
| Volume | 62 |
| Issue | 3 |
| Pages | 339-347 |
| Publication date | 2021-06-01 |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Scandinavian Journal of Psychology (JOURNAL) |
| Journal identifiers | ISSN: 0036-5564 • E-ISSN: 1467-9450 |
| Publisher | Wiley (PUBLISHER • GB) |
| DOI | 10.1111/sjop.12712 |
| PMID | 33719048 |
| OpenAlex | W3139130487 |
| Language | EN |
| Citations received | 2 |
| References cited | 61 |
We investigated whether experienced regret influences risky decision making in future dissimilar situations and whether this effect is affected by risky degree. Therefore, participants ( N = 39 and 54 in Experiment 1 and 2, respectively) were asked to select one of the two options. In the experienced regret condition, the selected option was worse than the unselected option; in the control condition, the information about the unselected option was unknown to the participants. Subsequently, participants were required to either keep the selected option or to gamble. Additionally, Experiment 2 varied in risky degree of the gamble from low to high. Results showed that experienced regret enhanced possibilities of gamble under low risk (Experiment 1 and 2). Under high risk, however, the effect of experienced regret was reversed (Experiment 2). The findings might suggest that experienced regret affects risky decision making in future dissimilar situations dependently on risky degree
Actuarial science · Control (management) · Degree (music) · Economics · Regret · Risk-seeking · Statistics · Decision-Making and Behavioral Economics · Experimental Behavioral Economics Studies · Mathematics · Optimism, Hope, and Well-being · Psychology · Social Psychology
Emotional Reactions to the Outcomes of Decisions
What We Regret Most… and Why
Decision making under stress
Disappointment in Decision Making Under Uncertainty
Emotion and Decision Making
The Experience of Regret and Disappointment
Consequences of Regret Aversion
Prospect Theory
The Functional Theory of Counterfactual Thinking
Beyond valence in customer dissatisfaction
On bad decisions and disconfirmed expectancies
A Theory of Regret Regulation 1.0
All Negative Moods Are Not Equal
Regret in Decision Making
Advances in prospect theory
G*Power 3
Beyond valence
Prospect Theory
The Framing of Decisions and the Psychology of Choice
The assessment and analysis of handedness
Positive emotional context eliminates the framing effect in decision-making
Inaction inertia
Regret-Based Decision-Making Style Acts as a Dispositional Factor in Risky Choices
The effect of emotion and time pressure on risk decision-making
Emotion, Decision, and Risk
Anticipated regret, expected feedback and behavioral decision making
The consequences of doing nothing
Regret Theory
Fear, anger, and risk
Inaction inertia
Risk as feelings
| Citations per year | 1 |
|---|---|
| Citation span | 2024 - 2026 (3) |
| Highly cited | No |