Regret aversion: Difference between revisions
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It means decision making which assigns undue weight to avoid avoiding an outcome that may be regretted in the future. | It means decision making which assigns undue weight to avoid avoiding an outcome that may be regretted in the future. | ||
This can lead to suboptimal risk management decisions, as individuals may be overly cautious to avoid regret. | This can lead to suboptimal risk management decisions, as individuals may be overly cautious to avoid regret. | ||
Latest revision as of 09:45, 30 November 2023
Behavioural skills - cognitive bias.
Regret aversion is a cognitive bias.
It means decision making which assigns undue weight to avoid avoiding an outcome that may be regretted in the future.
This can lead to suboptimal risk management decisions, as individuals may be overly cautious to avoid regret.
See also
- Affinity bias
- Bandwagon bias
- Behavioural economics
- Behavioural skills
- Bias
- Choice supporting bias
- Cognitive bias
- Cognitive dissonance
- Cognitive science
- Confirmation bias
- Default bias
- Diversity
- Dunning-Kruger effect
- Emotional intelligence
- Executive coaching
- FOMO
- Framing effect
- Groupthink
- Hindsight bias
- Impostor syndrome
- Maslow's hammer
- Objectivity
- Optimism bias
- Reactance bias
- Regret risk
- Risk management
- Self-investment bias
- Self-serving bias
- Social bias
- Source bias
- Status quo bias
- Working effectively with others
