Reply---Putting a Premium on Regret

David E. Bell
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David E. Bell: Harvard Business School, Boston, Massachusetts 02163

Management Science, 1985, vol. 31, issue 1, 117-122

Abstract: Anand (Anand, P. 1985. Testing regret. Management Sci. 31 114--116.) has suggested that measuring the sacrifice a person is prepared to make to avoid regret may be more difficult than I suggest in Bell (Bell, D. E. 1983. Risk premiums for decision regret. Management Sci. 29 1156--1166.). Though he believes regret is probably widespread, he is concerned that regret may be confounded with other of the psychological phenomena that I have discussed, especially disappointment (Bell [Bell, D. E. 1985. Disappointment in decision making under uncertainty. Harvard Business School Working Paper 83-18, 1982. Oper. Res. (January--February).]). I will use this opportunity for response to set my work in perspective.

Date: 1985
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