TY  - JOUR
AB  - Purpose– The purpose of this paper is to explore the decision‐making implications of “regrets of the heart” versus “regrets of the head” in economic decision making.Design/methodology approach– The phenomenon in three empirical studies is examined. Study 1 is a protocol analysis of people's “regrets of the heart” and “regrets of the head”. Study 2 uses the same recall prompt and examined decision makers' choices in an ultimatum bargaining game. Study 3 tests regrets of heart versus the head in an interactive face to face negotiation setting.Findings– Overall, it is found that people who were prompted to recall a time in which they regretted “not following their heart” were more likely to recall situations in which they experienced a loss or lost opportunity compared to people who recalled a time when they regretted “not following their head”. Recalling a regret of the heart prompts decision makers and negotiators to put a greater value on maintaining relationships and avoid loss in an interpersonal exchange situation.Research limitations/implications– These findings contribute to the literature on how emotions affect economic decision making and provide a more nuanced examination of regret.Practical implications– Focusing on “regrets of the head” may lead to greater economic gains in economic decisions.Originality/value– This article examines a different type of regret and demonstrates how this type of regret impacts economic decision‐making behavior.
VL  - 20
IS  - 4
SN  - 1044-4068
DO  - 10.1108/10444060910991048
UR  - https://doi.org/10.1108/10444060910991048
AU  - Crotty Susan K.
AU  - Thompson Leigh
PY  - 2009
Y1  - 2009/01/01
TI  - When your heart isn't smart: How different types of regret change decisions and profits
T2  - International Journal of Conflict Management
PB  - Emerald Group Publishing Limited
SP  - 315
EP  - 339
Y2  - 2024/04/25
ER  -