Special Session Abstract - S Post-Choice Valuation: the Role of Regret in Consumer Decision-Making

Citation:

N/A (1999) ,"Special Session Abstract - S Post-Choice Valuation: the Role of Regret in Consumer Decision-Making", in NA - Advances in Consumer Research Volume 26, eds. Eric J. Arnould and Linda M. Scott, Provo, UT : Association for Consumer Research, Pages: 342.

Advances in Consumer Research Volume 26, 1999      Page 342

SPECIAL SESSION ABSTRACT - S

POST-CHOICE VALUATION: THE ROLE OF REGRET IN CONSUMER DECISION-MAKING

 

"THE IMPACT OF CHOICE SETS ON CONSUMER SATISFACTION, DISSATISFACTION AND REGRET"

Paul W. Miniard, Florida International University

Mary Jane Burns, Florida International University

Kimberly A. Taylor, Florida International University

Considerable research has demonstrated how the composition of the choice set affects product evaluation and choice, but there has been relatively little research investigating the impact of the choice set on postconsumption evaluations. We propose that, when the consumption experience falls short of one’s expectations, choice sets with no obviously superior choice offer greater possibilities for regret, and thus dissatisfaction, than do choice sets containing a dominant alternative. For a dominant set, dissatisfied consumers should reason that, as they chose the clearly superior brand, a bad experience was likely regardless of the brand they chose. In a differentiated set, however, important brand differences should lead to regret over the unchosen alternatives in the set. A series of studies examining these hypotheses is presented.

 

"REGRET AND SELF-CONGRATULATION FROM THE HEAD AND FROM THE HEART"

Agnish Chakravarti, Stanford University

Susan Chiu, Stanford University

Ran Kivetz, Stanford University

Itamar Simonson, Stanford University

In this research we examine the effect of the source or basis of a purchase decision on subsequent regret or self-credit, in case of failure or success, respectively. When making purchase decisions consumers may rely primarily on logical considerations (head-based decisions) or onemotional considerations (heart-based decisions). We propose that the source of the decision has a systematic effect on subsequent regret. It is further predicted that the basis of the decision, head versus heart, affects the degree of happiness and self-credit in case the decision turns out to be successful. In a series of studies we test these predictions and examine the underlying processes. The moderating role of individual differences is also investigated.

 

"THE ROLE OF REGRET IN POST-CHOICE VALUATION: WHEN CHOICE SETS CONSIST OF MORE THAN TWO ALTERNATIVES"

Michael Tsiros, Washington University

The author examines the influence of experienced regret on the selection of the reference point used in post-choice valuation. Prior research on regret has assumed only a two-alternative choice set with the forgone alternative being the reference point for measuring regret. The author relaxes that assumption and develops hypotheses to examine the selection of the reference point in cases that more closely represent real-life experience (i.e., choice sets with more than two alternatives). Two studies are reported which provide support for most of the hypotheses. Several theoretical and managerial implications are discussed and future research directions are suggested.

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