Action orientation, consistency and feelings of regret
Journal Title: Judgment and Decision Making - Year 2007, Vol 2, Issue 6
Abstract
Previous research has demonstrated that consistency between people's behavior and their dispositions has predictive validity for judgments of regret. Research has also shown that differences in the personality variable of action orientation can influence ability to regulate negative affect. The present set of studies was designed to investigate how both consistency factors and action-state personality orientation influence judgments of regret. In Study 1, we used a recalled life event to provide a situation in which the person had experienced either an action or inaction. Individuals with an action orientation experienced more regret for situations involving inaction (staying home) than situations involving action (going out). State-oriented individuals, however, maintained high levels of regret and did not differ in their regret ratings across either the action or inaction situations. In Study 2, participants made realistic choices involving either an action or inaction. Our findings revealed the same pattern of results: action-oriented individuals who chose an option that involved not acting (inaction) had more regret that individuals who chose an option that involved acting (action). State-oriented individuals experienced high levels of regret regardless of whether they chose to act or not to act.
Authors and Affiliations
Todd McElroy and Keith Dowd
Do you look forward to retirement? Motivational biases in pension decisions
This research examines the relationship between positive and negative perceptions of pensions and motivation to engage in the decision process of choosing a private pension plan, as well as satisfaction from the chosen p...
Responsibility judgments of wins and losses in the 2013 chess championship
We report two studies on the perceived responsibility of opponents competing for a goal that can be attained by only one of them. Responsibility judgments were collected in seven samples of lay people and experts before,...
On the descriptive value of loss aversion in decisions under risk: Six clarifications
Previous studies of loss aversion in decisions under risk have led to mixed results. Losses appear to loom larger than gains in some settings, but not in others. The current paper clarifies these results by highlighting...
Description-based and experience-based decisions: individual analysis
We analyze behavior in two basic classes of decision tasks: description-based and experience-based. In particular, we compare the prediction power of a number of decision learning models in both kinds of tasks. Unlike mo...
Cognitive ability and risk aversion: A systematic review and meta analysis
Are highly intelligent people less risk averse? Over the last two decades scholars have argued the existence of a negative relationship between cognitive ability and risk aversion. Although numerous studies support this,...