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How we change what others think, feel, believe and do
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How we change what others think, feel, believe and do |
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Regret Theory
Explanations > Theories > Regret Theory Description | Example | So What? | See also | References
DescriptionPeople know that when they make a decision they will feel regret if they make the wrong decision. They thus take this anticipated regret into account when they decide. This is probably what makes them loss-averse. When thinking ahead, they may experience anticipatory regret, as they realize that they may regret in the future. This can be a powerful dissuader or create a specific motivation to do one thing in order to avoid something else. ExampleWhen I go to buy a car, I am so terrified of buying a heap of junk, I read many magazines and ask lots of knowledgeable friends first. And I listen to their advice rather than buying the car that I think looks the nicest. So what?Using itRemind the other person of what they may lose if they do not agree with you. Show what they may regret. DefendingRemember to anticipate the joy of gain. Be realistic about gains and losses. See alsoCounterfactual Thinking, Prospect Theory References |
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