CONSEQUENCES OF REGRET AVERSION-2 - ADDITIONAL EVIDENCE FOR EFFECTS OF FEEDBACK ON DECISION-MAKING

We discuss the effects of anticipated and experienced regret on decisi on making under uncertainty, In previous research, using the standard, context-free, gamble paradigm, we found that decision makers anticipa te the regret they can experience as a result of post-decisional feedb ack on forgone outcomes (Zeelenberg, Beattie, van der Pligt, & de Vrie s, 1996), In the present research we move away fi om the gamble paradi gm, on to richer contexts, In Experiments 1 and 2, involving investmen t decision making and decision making in the ultimatum game, it is sho wn that the expectation of feedback on forgone outcomes influences dec ision making and can promote more risk seeking behavior, Experiment 3 focused on effects of retrospective regret and shows that actual feedb ack on foregone outcomes influences the experience of regret and subse quent decision making, The results of these studies support our earlie r work on regret aversion. (C) 1997 Academic Press.