A Theory of Regret Regulation 1.0

Abstract

We propose a theory of regret regulation that distinguishes regret from related emotions, specifies the conditions under which regret is felt, the aspects of the decision that are regretted, and the behavioral implications. The theory incorporates hitherto scattered findings and ideas from psychology, economics, marketing, and related disciplines. By identifying strategies that consumers may employ to regulate anticipated and experienced regret, the theory identifies gaps in our current knowledge and thereby outlines opportunities for future research.