Choice & Regret Study Guide
docx
keyboard_arrow_up
School
Brigham Young University, Idaho *
*We aren’t endorsed by this school
Course
210
Subject
Communications
Date
Feb 20, 2024
Type
docx
Pages
2
Uploaded by schlschl
Choice & Regret Study Guide
Instructions
This is an open-book, open-note assignment. However, your work should be your own – copying
and pasting from other sources is plagiarism. If you aren’t sure of the answers, try your very best,
and then go back to the readings and check your work. 1.
In your own words, what is the difference between satisficing and maximizing? What are some examples of decisions where you’ve satisficed, and others where you’ve maximized?
Maximizing is choosing a response to problems based on it being acceptable while satisficing
is when we contemplate and really think about as many choices as possible in order to find the best one. I have made choices to drive a certain way because it seemed like the acceptable
route, but if I had thought about it fully, I would have notices the other choice was faster and the better option. 2.
In your own words, what is the difference between post-decision regret and anticipatory regret? What are some examples where you’ve experienced each?
Post-decision regret is a feeling of stress that comes after purchasing something. It is the feeling that they should have chosen a different option that they had in the beginning. Anticipatory regret is when someone is stressing and having this bad feeling before the decision is even made. One time I was deciding between two different computers. After picking one, I worried that I had chose the wrong one. Another time, I went to buy a vacuum and was having that stress before I bought it.
3.
What is an example of when you’ve experienced decision conflict, due to the tradeoffs of a decision? Does having more choices available reduce decision conflict?
One time, I was having a hard time choosing between two different ways to handle a situation at work. I thought on it for a few hours and was really struggling to choose. I would think of one way to handle it and the thought of it upsetting one person would hold me back. Either way, it felt like someone would be upset. I think having more choices almost makes decision conflict worse but in only certain situations. 4.
In your own words, what does Schwartz mean by regret aversion
? What are some examples of regret aversion in action? Regret aversion is when someone avoids making a choice because they fear that the decision will ultimately not be beneficial.
5.
In your own words, what are three factors that increase the chances of regret, according to Schwartz? The three factors that increase the chances of regret are omission bias, nearness effect and responsibility.
6.
According to Schwartz, why might more options and more choices make us less happy
? More options and more choices might make us less happy because it causes more options for regret. It causes us to have to decide between and think of what could happen with too many different options. This can cause us to struggle more than if we had less options.
Your preview ends here
Eager to read complete document? Join bartleby learn and gain access to the full version
- Access to all documents
- Unlimited textbook solutions
- 24/7 expert homework help