Regret and the Control of Temporary Preferences

• Main Authors: CONNOLLY, Terry, REB, Jochen
• Format: text
• Language: English
• Published: Institutional Knowledge at Singapore Management University 2005
• Subjects: Biological Psychology; Business; Organizational Behavior and Theory
• Online Access: https://ink.library.smu.edu.sg/lkcsb_research/2496; https://ink.library.smu.edu.sg/context/lkcsb_research/article/3495/viewcontent/BBS_Ainslie_comment_March_2005Final.pdf
• Institution: Singapore Management University

Regret is often symptomatic of the defective decisions associated with temporary preference problems. It may also help overcome these defects. Outcome regret can modify the relative utilities of different payoffs. Process regret can motivate search for better decision processes or trap-evading strat...