Regret Theory

Regret Theory is a concept in decision-making that suggests people often consider not just the outcomes of their choices, but also the potential regret they might feel if they choose one option over another. Essentially, when faced with decisions, individuals weigh how much they would feel disappointed or upset if their chosen option turns out poorly compared to an alternative. This theory helps explain why people might avoid risks or choose safer options, as they aim to minimize feelings of regret associated with their decisions.