#16: No Regrets

Adding an extra dose of behavioral science to your week with our series In a Nutshell— a collection of behavioral science principles, explained in 150 words or less, written weekly by CUBIC director Allison Zelkowitz.

Picture this: You’re shopping for a gift when you spot a fantastic shirt, and it’s the last one. Ugh – it’s twice the price you expected! You can’t decide what to do, but then think “Whatever, I’ll buy it, I don’t want to regret it later!”

Regret aversion is the fear that your decision will turn out to be wrong in hindsight. This cognitive bias occurs in part because human beings are extremely sensitive to losses and negative events, and we tend to overestimate future regret, compared to how we actually feel when something bad does happen.

While regret aversion can lead to poor decision making – such as shopping splurges – it can also motivate positive behaviors by helping us focus on our future selves. For example, when discussing vaccination with a hesitant friend, you might ask, “Would you regret it if your daughter got measles?  What if her whole class did?”