Transitive regret

Sushil Bikhchandani and Uzi Segal ()

Theoretical Economics, 2011, vol. 6, issue 1

Abstract: Preferences may arise from regret, i.e., from comparisons with alternatives forgone by the decision maker. We ask whether regret-based behavior is consistent with non-expected utility theories of transitive choice and show that the answer is no. If choices are governed by ex ante regret and rejoicing then non-expected utility preferences must be intransitive.

Keywords: Regret; transitivity; non-expected utility (search for similar items in EconPapers)
JEL-codes: D81 (search for similar items in EconPapers)
Date: 2011-01-23
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Working Paper: Transitive Regret (2009)
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