2016 | OriginalPaper | Chapter
If Only…? A Study on the Effects of Purchase Regret
Authors : Kristy McManus, Piyush Kumar
Published in: Looking Forward, Looking Back: Drawing on the Past to Shape the Future of Marketing
Publisher: Springer International Publishing
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At some point, most all consumers will experience some level of regret over a particular purchase decision. This regret may come from purchasing a product that is later determined to be a poor fit or low utility and ultimately would be deemed a poor purchase decision. This regret may also come from a missed purchase in a limited opportunity situation. Earlier studies have shown that actions are regretted more than inactions in the short run (Kahneman and Tversky 1982: Landman 1987), and that over time, action regrets tend to decrease while inaction regrets increase (Gilovich and Medvec 1995).