Anticipated regret leads to information avoidance and risk aversion in decision-making
The article explores how regret and another feeling called Psychological Opportunity Cost affect decision-making. Regret can make people avoid information and take less risk, while Psychological Opportunity Cost is felt when making a choice. The study suggests that regret-averse individuals may avoid taking risks and show correlation loving behavior. The findings shed light on why people sometimes make suboptimal choices, like sticking with the status quo.