Willingness to take risk is an important characteristic of entrepreneurship and a crucial factor for economic growth. Data show that compared to their US counterparts, people in Europe, and even more so in Eastern Europe, are less willing to undertake the risk of building their own business. The...

Theoretical and empirical body of research have exposed the powerful role of experiencing regret in guiding choice behavior. In this paper, we examined the impact of experienced regret and rejoicing induced by feedback provided on a risk decision prior to a two-period intertemporal choice. To...

We examine the behavioral consequences of experienced regret on subsequent choice. Previous experimental research findings suggest that the impact of experienced regret on repeating subsequent choice is mediated by the anticipation of experiencing regret again. We argue that this impact is due...

In the current paper we investigate how feedback over decision outcomes may affect future decisions. In an experimental study we demonstrate that if people receive feedback over the outcomes they obtained (``factual outcomes'') and the outcomes they would have obtained had they decided...

We present an experiment designed to test whether experienced regret and rejoicing evoked in a risk choice have an impact on subsequent intertemporal choice. We found that regret and rejoicing experienced prior to an intertemporal choice influenced considerably the way people relate to future:...