Individual Paper(s)
The development and role of regret in decision making
Eimear O’Connor
Queen’s University, Belfast
Dr Aidan Feeney
Queen’s University, Belfast
Professor Teresa McCormack
Queen’s University, Belfast
Background: Previous studies
suggest the development of regret typically emerges around 6-7 years
of age.
Aims: Assess individual differences in the emergence of regret and its role
in decision making.
Method: On Day 1, 6- to 7-year-olds
chose between two boxes to win a prize. The regret condition was designed to
induce feelings of regret because the unchosen box contained a better prize; a
baseline condition was also included in which both prizes were the same.
Children were asked to rate their feelings towards their prize before and after
the alternative prize was revealed. On Day 2, there was a fee to open the
unchosen box from Day 1. Profitable decision making involved paying to open the
unchosen box in the regret but not the baseline condition. Children were asked
to choose again between the two boxes to examine if levels of reported regret
on Day 1 were related to subsequent choices.
Results: Logistic
regressions were performed which found regret was a significant predictor of
profitable decision making controlling for age and verbal ability.
Conclusions: Findings may enhance our understanding of the
development of regret and its
role in decision making.
