Bikhchandani, Sushil; Segal, Uzi - In: Theoretical economics : TE ; an open access journal in … 6 (2011) 1, pp. 95-108
Preferences may arise from regret, i.e., from comparisons with alternatives forgone by the decision maker. We ask … whether regret-based behavior is consistent with non-expected utility theories of transitive choice and show that the answer … is no. If choices are governed by ex ante regret and rejoicing then non-expected utility preferences must be intransitive. …
