Regret in individual and group decision making

Abstract

We compared the regret that people report in individual and group decision-making in two experimental studies. In the first study, thirty-nine participants were randomly assigned to either an individual or a group decisionmaking condition, and then failed on an assigned task. They were asked to rate their regret and cognitive variables of controllability, internal and external factors related to their failure. Participants in the group decision condition, reported less regret than in the individual decision condition. In the second study, we added individual and group decision conditions where the participants heard others express regret. Fifty-eight participants played and lost the same game in the four conditions. In the group decision condition, we found that the participants who heard others express regret reported more regret than the participants who did not hear others' regret. These findings suggest that the expression of regret enhances others' regret. Some implications of the findings are discussed.