Testing for feedback-conditional regret effects using a natural lottery

Arbeitspapier

We report the results of an experimental test for feedback-conditional regret effects using a naturally occurring gamble. The properties of this gamble are likely to engage decision-makers to a greater extent than conventional abstract laboratory gambles, and be more generally exhibited by real world objects of choice. We argue that this conveys a higher than typical degree of external validity on our findings. We observe that feedback on the outcome of foregone choices enhances the salience of regret as a decision motive.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: CeDEx Discussion Paper Series ; No. 2005-07

Classification and Topics

• Classification: Wirtschaft ; Criteria for Decision-Making under Risk and Uncertainty ; Design of Experiments: Laboratory, Individual
• Subject: regret theory ; outcome feedback ; natural lottery ; external validity ; Entscheidungstheorie ; Risiko ; Spieltheorie

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Humphrey, Steven J. ; Mann, Paul ; Starmer, Chris
• Event: Veröffentlichung
• (who): The University of Nottingham, Centre for Decision Research and Experimental Economics (CeDEx)
• (where): Nottingham
• (when): 2005

Further information

• Handle: http://hdl.handle.net/10419/67979
• Last update: 10.03.2025, 11:42 AM CET