Regulation of experienced and anticipated regret in daily decision making

Abstract

Decisions were sampled from 108 participants during 8 days using a web-based diary method. Each day participants rated experienced regret for a decision made, as well as forecasted regret for a decision to be made. Participants also indicated to what extent they used different strategies to prevent or regulate regret. Participants regretted 30% of decisions and forecasted regret in 70% of future decisions, indicating both that regret is relatively prevalent in daily decisions but also that experienced regret was less frequent than forecasted regret. In addition, a number of decision-specific regulation and prevention strategies were successfully used by the participants to minimize regret and negative emotions in daily decision making. Overall, these results suggest that regulation and prevention of regret are important strategies in many of our daily decisions.