Reliability and factor validity of the Japanese version of the “Regret and Maximization Scale” in voluntary panel Web surveys

Abstract

The Japanese version of the “Regret and Maximization Scale” (JRMS) can predict the individual difference in the style of decision-making. However, according to two previous studies that examined the reliability and validity of the JRMS, the reliability was not very high. In addition, the factor validity needs to be examined because the number of common factors the JRMS might consist of was ambiguous. The present study tested the factorial pattern of the JRMS using voluntary panel Web surveys. We conducted an exploratory factor analysis on 1,121 samples in Study 1 and a confirmatory factor analysis on 480 samples in Study 2. Both analyses showed that the JRMS consists of three factors: regret for one's life, regret for purchase, and maximization. These results verified the factor validity of the JRMS. Each subscale showed an acceptable level of internal consistency. Each factor index positively correlated with each other, and also positively correlated with the age of participants. We discussed the reason why regret was divided into two categories, and the applicability of the JRMS to other studies.