Abstract
This study replicated the findings by Gilbert, Morewedge, Risen, & Wilson (2004), who discovered that when people nearly missed succeeding, they anticipated a stronger intensity of regret than what they actually experienced, which is known as impact bias. We investigated the impact bias through both intensity and duration, by measuring the intensity of regret right after negative feedback, and then again 10 minutes later. Participants took part in a quiz in which they were eligible to win an attractive prize, but were given feedback that they nearly won or clearly lost. Half of the participants were asked to predict how much regret they would feel immediately, and 10 minutes after the negative feedback, while the remaining half reported on how much regret they actually experienced immediately and after 10 minutes. As expected, in the nearly won condition, the intensity of anticipated regret was stronger than experienced regret, both immediately and 10 minutes after the negative feedback. However, in the clearly lost condition, the intensity of anticipated regret was not stronger than actually experienced regret. The impact bias of regret, therefore, was found in the nearly won condition, but not in the clearly lost. Discussion was made of the duration of regret, and the conditions that reduce impact bias.
