Biased forecasting of postdecisional affect

Although anticipated postdecisional regret is a significant contributor to people's decision-making processes, the accuracy of people's regret forecasts has yet to be assessed systematically. Here we report two studies to fill this lacuna. In Study 1, we found that subjects who made reasonably high offers overpredicted the regret that they experienced after they unexpectedly failed at a negotiation. In Study 2, we found that subjects overpredicted the rejoicing and marginally underpredicted the regret that they experienced when they received higher marks than they had expected for their course work. Systematic affective misprediction implies that people making decisions should discount the regret and rejoicing that they anticipate will be associated with potential outcomes arising from those decisions.