Regret Theory

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August 31, 2024 5 min read Definitions

Regret Theory: Decision-Making Under the Shadow of Regret

Economics Behavioural Economics Decision Theory Regret Theory Decision Making Behavioral Economics Expected Utility Economic Anomalies

Regret Theory is a framework in decision-making where individuals anticipate the regret they might feel if a wrong choice is made and incorporate this anticipation into their decision processes. This theory offers an alternative to the expected utility hypothesis and helps explain various economic anomalies.

August 24, 2024 3 min read Definitions

Regret Theory: Meaning, Psychological Insights, and Practical Applications

Economics Psychology Behavioral Economics Regret Theory Decision Making Behavioral Economics Psychology Theory

An in-depth exploration of Regret Theory, its psychological underpinnings, real-world applications, historical context, and comparisons with related decision-making theories.