NDLI: Regret aversion in reason-based choice

Content Provider	Springer Nature Link
Author	Conlly, Terry Reb, Jochen
Copyright Year	2011
Abstract	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.
Starting Page	35
Ending Page	51
Page Count	17
File Format	PDF
ISSN	00405833
Journal	Theory and Decision
Volume Number	73
Issue Number	1
e-ISSN	15737187
Language	English
Publisher	Springer US
Publisher Date	2011-07-31
Publisher Place	Boston
Access Restriction	One Nation One Subscription (ONOS)
Subject Keyword	Decision justification Reason-based choice Regret Regret aversion Decoy effect Accept/reject effect Most important attribute effect Methodology of the Social Sciences Economic Theory Game Theory, Economics, Social and Behav. Sciences Game Theory/Mathematical Methods Operations Research/Decision Theory
Content Type	Text
Resource Type	Article
Subject	Arts and Humanities Economics, Econometrics and Finance Developmental and Educational Psychology Social Sciences Decision Sciences Applied Psychology Computer Science Applications

Sl.	Authority	Responsibilities	Communication Details
1	Ministry of Education (GoI), Department of Higher Education	Sanctioning Authority	https://www.education.gov.in/ict-initiatives
2	Indian Institute of Technology Kharagpur	Host Institute of the Project: The host institute of the project is responsible for providing infrastructure support and hosting the project	https://www.iitkgp.ac.in
3	National Digital Library of India Office, Indian Institute of Technology Kharagpur	The administrative and infrastructural headquarters of the project	Dr. B. Sutradhar bsutra@ndl.gov.in
4	Project PI / Joint PI	Principal Investigator and Joint Principal Investigators of the project	Dr. B. Sutradhar bsutra@ndl.gov.in Prof. Saswat Chakrabarti will be added soon
5	Website/Portal (Helpdesk)	Queries regarding NDLI and its services	support@ndl.gov.in
6	Contents and Copyright Issues	Queries related to content curation and copyright issues	content@ndl.gov.in
7	National Digital Library of India Club (NDLI Club)	Queries related to NDLI Club formation, support, user awareness program, seminar/symposium, collaboration, social media, promotion, and outreach	clubsupport@ndl.gov.in
8	Digital Preservation Centre (DPC)	Assistance with digitizing and archiving copyright-free printed books	dpc@ndl.gov.in
9	IDR Setup or Support	Queries related to establishment and support of Institutional Digital Repository (IDR) and IDR workshops	idr@ndl.gov.in

On probabilities and loss aversion

The willingness-to-accept/willingness-to-pay disparity in repeated markets: loss aversion or ‘bad-deal’ aversion?

Context dependence and consistency in dynamic choice under uncertainty: the case of anticipated regret

Choice with imprecise information: an experimental approach

On the Effect of Risk Aversion in Bimatrix Games

Conflicting violations of transitivity and where they may lead us

Dynamic Choice, Independence and Emotions

Ambiguity aversion in multi-armed bandit problems

On Loss Aversion in Bimatrix Games

Regret aversion in reason-based choice

Similar Documents

On probabilities and loss aversion

The willingness-to-accept/willingness-to-pay disparity in repeated markets: loss aversion or ‘bad-deal’ aversion?

Context dependence and consistency in dynamic choice under uncertainty: the case of anticipated regret

Choice with imprecise information: an experimental approach

On the Effect of Risk Aversion in Bimatrix Games

Conflicting violations of transitivity and where they may lead us

Dynamic Choice, Independence and Emotions

Ambiguity aversion in multi-armed bandit problems

On Loss Aversion in Bimatrix Games

Regret aversion in reason-based choice