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Regret Aversion In Reason-Based Choice, Terry Connolly, Jochen Reb
Regret Aversion In Reason-Based Choice, Terry Connolly, Jochen Reb
Research Collection Lee Kong Chian School Of Business
This research examines the moderating role of regret aversion in reason-based choice. Earlier research has shown that regret aversion and reason-based choice effects are linked through a common emphasis on decision justification, and that a simple manipulation of regret salience can eliminate the decoy effect, a well-known reason-based choice effect. We show here that the effect of regret salience varies in theory-relevant ways from one reason-based choice effect to another. For effects such as the select/reject and decoy effect, both of which were independently judged to be unreasonable bases for deciding, regret salience eliminated the effect. For the most-important attribute …
Regret And Justification As A Link From Argumentation To Consequentialism, Terry Connolly, Jochen Matthias Reb
Regret And Justification As A Link From Argumentation To Consequentialism, Terry Connolly, Jochen Matthias Reb
Research Collection Lee Kong Chian School Of Business
Mercier and Sperber (M&S) argue that reasoning has evolved primarily as an adjunct to persuasive communication rather than as a basis for consequential choice. Recent research on decision-related regret suggests that regret aversion and concomitant needs for justification may underpin a complementary mechanism that can, if appropriately deployed, convert M&S's facile arguer into an effective decision maker, with obvious evolutionary advantages.