On bad decisions and disconfirmed expectancies: The psychology of regret and disappointment

Decision outcomes sometimes result in negative emotions. This can occur whe n a decision appears to be wrong in retrospect, and/or when the obtained de cision outcome does not live up to expectations. Regret and disappointment are the two emotions that are of central interest in the present article. A lthough these emotions have a lot in common, they also differ in ways that are relevant to decision making. In this article we review theories and emp irical findings concerning regret and disappointment. We first discuss how regret and disappointment differ with respect to their antecedent condition s, appraisals, and phenomenology. We also discuss possible behavioural cons equences of experiencing these emotions. Next, we consider how the anticipa tion of regret and disappointment may influence decision making. We use reg ret and disappointment theory, developed by the economists Bell (1982, 1985 ), and Loomes and Sugden (1982, 1986, 1987), as a framework for our discuss ion. Finally, we argue that combining the theoretical approaches and resear ch paradigms of behavioural decision theory with emotion theories will sign ificantly increase our knowledge of antecedents and consequences of emotion s.