Regret aversion influences decisionmaking processes from "summary" of Beyond Greed and Fear:Understanding Behavioral Finance and the Psychology of Investing by Hersh Shefrin
Regret aversion is a powerful force that can significantly impact decision-making processes. People are often driven by a fear of regret - the feeling of disappointment or remorse that comes from making a wrong decision. This fear can lead individuals to avoid taking risks or making decisions that could result in regret. Instead of focusing on potential gains, individuals may be more concerned with avoiding losses and the regret that comes with them.
When faced with a decision, individuals may weigh the potential outcomes based on their emotional response to regret. They may be more likely to choose options that minimize the chances o...
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