Regret Aversion in Reason-based Choice

This research examines the moderating role of regret aversion in reason-based choice. Earlier research has shown that regret aversion and reason-based choice effects are linked through a common emphasis on decision justification, and that a simple manipulation of regret salience can eliminate the de...

Full description

Saved in:
Bibliographic Details
Main Authors: CONNOLLY, Terry, REB, Jochen
Format: text
Language:English
Published: Institutional Knowledge at Singapore Management University 2011
Subjects:
Online Access:https://ink.library.smu.edu.sg/lkcsb_research/3155
https://ink.library.smu.edu.sg/context/lkcsb_research/article/4154/viewcontent/RegretAversionRBC__2_.pdf
Tags: Add Tag
No Tags, Be the first to tag this record!
Institution: Singapore Management University
Language: English
id sg-smu-ink.lkcsb_research-4154
record_format dspace
spelling sg-smu-ink.lkcsb_research-41542017-12-12T09:05:49Z Regret Aversion in Reason-based Choice CONNOLLY, Terry REB, Jochen This research examines the moderating role of regret aversion in reason-based choice. Earlier research has shown that regret aversion and reason-based choice effects are linked through a common emphasis on decision justification, and that a simple manipulation of regret salience can eliminate the decoy effect, a well-known reason-based choice effect. We show here that the effect of regret salience varies in theory-relevant ways from one reason-based choice effect to another. For effects such as the select/reject and decoy effect, both of which were independently judged to be unreasonable bases for deciding, regret salience eliminated the effect. For the most-important attribute effect that is judged to be normatively acceptable, however, regret salience amplified the effect. Anticipated self-blame regret and perceived decision justifiability consistently predicted preferences and thus offer a parsimonious account of both attenuation and amplification of these reason-based choice effects. 2011-07-01T07:00:00Z text application/pdf https://ink.library.smu.edu.sg/lkcsb_research/3155 info:doi/10.1007/s11238-011-9269-0 https://ink.library.smu.edu.sg/context/lkcsb_research/article/4154/viewcontent/RegretAversionRBC__2_.pdf http://creativecommons.org/licenses/by-nc-nd/4.0/ Research Collection Lee Kong Chian School Of Business eng Institutional Knowledge at Singapore Management University Decision justification Reason-based choice Regret Regret aversion Decoy effect Accept/reject effect Most important attribute effect Organizational Behavior and Theory Sales and Merchandising
institution Singapore Management University
building SMU Libraries
continent Asia
country Singapore
Singapore
content_provider SMU Libraries
collection InK@SMU
language English
topic Decision justification
Reason-based choice
Regret
Regret aversion
Decoy effect
Accept/reject effect
Most important attribute effect
Organizational Behavior and Theory
Sales and Merchandising
spellingShingle Decision justification
Reason-based choice
Regret
Regret aversion
Decoy effect
Accept/reject effect
Most important attribute effect
Organizational Behavior and Theory
Sales and Merchandising
CONNOLLY, Terry
REB, Jochen
Regret Aversion in Reason-based Choice
description This research examines the moderating role of regret aversion in reason-based choice. Earlier research has shown that regret aversion and reason-based choice effects are linked through a common emphasis on decision justification, and that a simple manipulation of regret salience can eliminate the decoy effect, a well-known reason-based choice effect. We show here that the effect of regret salience varies in theory-relevant ways from one reason-based choice effect to another. For effects such as the select/reject and decoy effect, both of which were independently judged to be unreasonable bases for deciding, regret salience eliminated the effect. For the most-important attribute effect that is judged to be normatively acceptable, however, regret salience amplified the effect. Anticipated self-blame regret and perceived decision justifiability consistently predicted preferences and thus offer a parsimonious account of both attenuation and amplification of these reason-based choice effects.
format text
author CONNOLLY, Terry
REB, Jochen
author_facet CONNOLLY, Terry
REB, Jochen
author_sort CONNOLLY, Terry
title Regret Aversion in Reason-based Choice
title_short Regret Aversion in Reason-based Choice
title_full Regret Aversion in Reason-based Choice
title_fullStr Regret Aversion in Reason-based Choice
title_full_unstemmed Regret Aversion in Reason-based Choice
title_sort regret aversion in reason-based choice
publisher Institutional Knowledge at Singapore Management University
publishDate 2011
url https://ink.library.smu.edu.sg/lkcsb_research/3155
https://ink.library.smu.edu.sg/context/lkcsb_research/article/4154/viewcontent/RegretAversionRBC__2_.pdf
_version_ 1770571131905900544