Choosing between options associated with past and future regret

Y. Shani, S. Danziger, M. Zeelenberg

Research output: Contribution to journalArticleScientificpeer-review

Abstract

People sometimes choose between options associated with already-missed and to-be-missed counterfactuals, or put differently, between past and future regret. We find that these objectively irrelevant associations systematically sway peoples’ choices. Results show participants prefer options associated with past promotions (Studies 1–3), and they experience more regret and feel more responsible for missing a future promotion (Studies 1 and 2). Study 2 also shows that participants’ preference for products associated with a past miss decreases when they know they will not encounter the future miss (promotion). Study 3 shows this preference also decreases when the product is utilized before the future miss becomes available. Finally, in a non-promotion context, Study 4 demonstrates that people distance themselves from a future miss when they are responsible for the miss but not when another person is responsible for it. These findings are related to regret, inaction inertia and the psychology of discounts.
Keywords: Future regret, Past regret, Counterfactuals, Missed opportunities, Responsibility, Promotions
Original languageEnglish
Pages (from-to)107-114
JournalOrganizational Behavior and Human Decision Processes
Volume126
Issue number1
DOIs
Publication statusPublished - 2015

Fingerprint

Inertia
Psychology
Key words
Discount
Responsibility

Cite this

@article{d659588a09084b81b0f1b7511cec8a62,
title = "Choosing between options associated with past and future regret",
abstract = "People sometimes choose between options associated with already-missed and to-be-missed counterfactuals, or put differently, between past and future regret. We find that these objectively irrelevant associations systematically sway peoples’ choices. Results show participants prefer options associated with past promotions (Studies 1–3), and they experience more regret and feel more responsible for missing a future promotion (Studies 1 and 2). Study 2 also shows that participants’ preference for products associated with a past miss decreases when they know they will not encounter the future miss (promotion). Study 3 shows this preference also decreases when the product is utilized before the future miss becomes available. Finally, in a non-promotion context, Study 4 demonstrates that people distance themselves from a future miss when they are responsible for the miss but not when another person is responsible for it. These findings are related to regret, inaction inertia and the psychology of discounts.Keywords: Future regret, Past regret, Counterfactuals, Missed opportunities, Responsibility, Promotions",
author = "Y. Shani and S. Danziger and M. Zeelenberg",
year = "2015",
doi = "10.1016/j.obhdp.2014.11.001",
language = "English",
volume = "126",
pages = "107--114",
journal = "Organizational Behavior and Human Decision Processes",
issn = "0749-5978",
publisher = "Academic Press Inc.",
number = "1",

}

Choosing between options associated with past and future regret. / Shani, Y.; Danziger, S.; Zeelenberg, M.

In: Organizational Behavior and Human Decision Processes, Vol. 126, No. 1, 2015, p. 107-114.

Research output: Contribution to journalArticleScientificpeer-review

TY - JOUR

T1 - Choosing between options associated with past and future regret

AU - Shani, Y.

AU - Danziger, S.

AU - Zeelenberg, M.

PY - 2015

Y1 - 2015

N2 - People sometimes choose between options associated with already-missed and to-be-missed counterfactuals, or put differently, between past and future regret. We find that these objectively irrelevant associations systematically sway peoples’ choices. Results show participants prefer options associated with past promotions (Studies 1–3), and they experience more regret and feel more responsible for missing a future promotion (Studies 1 and 2). Study 2 also shows that participants’ preference for products associated with a past miss decreases when they know they will not encounter the future miss (promotion). Study 3 shows this preference also decreases when the product is utilized before the future miss becomes available. Finally, in a non-promotion context, Study 4 demonstrates that people distance themselves from a future miss when they are responsible for the miss but not when another person is responsible for it. These findings are related to regret, inaction inertia and the psychology of discounts.Keywords: Future regret, Past regret, Counterfactuals, Missed opportunities, Responsibility, Promotions

AB - People sometimes choose between options associated with already-missed and to-be-missed counterfactuals, or put differently, between past and future regret. We find that these objectively irrelevant associations systematically sway peoples’ choices. Results show participants prefer options associated with past promotions (Studies 1–3), and they experience more regret and feel more responsible for missing a future promotion (Studies 1 and 2). Study 2 also shows that participants’ preference for products associated with a past miss decreases when they know they will not encounter the future miss (promotion). Study 3 shows this preference also decreases when the product is utilized before the future miss becomes available. Finally, in a non-promotion context, Study 4 demonstrates that people distance themselves from a future miss when they are responsible for the miss but not when another person is responsible for it. These findings are related to regret, inaction inertia and the psychology of discounts.Keywords: Future regret, Past regret, Counterfactuals, Missed opportunities, Responsibility, Promotions

U2 - 10.1016/j.obhdp.2014.11.001

DO - 10.1016/j.obhdp.2014.11.001

M3 - Article

VL - 126

SP - 107

EP - 114

JO - Organizational Behavior and Human Decision Processes

JF - Organizational Behavior and Human Decision Processes

SN - 0749-5978

IS - 1

ER -