Watch for
Choosing the safe option primarily to avoid potential future remorse.
Decision & ChoiceBias #92
Regret Aversion
We avoid decisions that might make us regret later.
The tendency to make decisions specifically aimed at avoiding the potential feeling of future regret even if it compromises optimal outcomes.
Why it matters: Explains why people choose default options stick with status quo and over-insure.
Try this
Distinguish between regret from a bad outcome and regret from a bad process.
Real-world example
Staying in a mediocre relationship because leaving might lead to regret if you never find someone better.
Key researchers
Graham Loomes, Robert Sugden
First described in 1982
Psychological mechanism
Anticipated regret simulation. The brain simulates future emotional states focusing on the pain of making a wrong choice. This anticipated pain is weighted heavily in current decisions often more than expected value.
Seminal research
Graham Loomes and Robert Sugden (1982), "Regret theory: An alternative theory of rational choice under uncertainty."
Related Biases
Debrief
Biases are not character flaws. They are recurring patterns in how minds compress uncertainty, save energy, and narrate reality. Once you recognise the pattern, you can slow the decision down, test the assumption, and make space for a better explanation.
Sources
Original ResearchLoomes and Sugden (1982) — Regret theory
EducationalAPA Dictionary entry