Rather unexpectedly, income is positively associated with anticipated regret.
Intuitively, higher income might lower perceived importance and irreversibility and
mitigate anticipated regret. However, the opposite occurs. One possible explanation is that
a higher income is often accompanied with more options, which in turn provokes
anticipated regret. Previous studies (see Landman, 1993; Schwartz, 2004) also suggested
that decisions with multiple alternatives could engender more anticipated regret than those
with fewer choices.
The study here also suggested that regret and CFT are important in explaining housing
satisfaction. Objective measures of housing and neighbourhood attributes alone do not
provide an adequate explanation for satisfaction (Lu, 1999). The importance of perceptual
variables has been emphasized, because it is individuals’ perception rather than the
actual configuration of residential conditions that is important in determining their
residential satisfaction (Galster & Hesser, 1981; Weidemann & Anderson, 1985).
Furthermore, a home buyer’s perception of housing conditions is formed not only by
attributes of the chosen dwelling, but also by attributes of alternatives not chosen.
Deliberation and high involvement in housing decision, which is often evoked by
anticipated regret, can result in more careful evaluation and more CFT about possible
Rather unexpectedly, income is positively associated with anticipated regret.
Intuitively, higher income might lower perceived importance and irreversibility and
mitigate anticipated regret. However, the opposite occurs. One possible explanation is that
a higher income is often accompanied with more options, which in turn provokes
anticipated regret. Previous studies (see Landman, 1993; Schwartz, 2004) also suggested
that decisions with multiple alternatives could engender more anticipated regret than those
with fewer choices.
The study here also suggested that regret and CFT are important in explaining housing
satisfaction. Objective measures of housing and neighbourhood attributes alone do not
provide an adequate explanation for satisfaction (Lu, 1999). The importance of perceptual
variables has been emphasized, because it is individuals’ perception rather than the
actual configuration of residential conditions that is important in determining their
residential satisfaction (Galster & Hesser, 1981; Weidemann & Anderson, 1985).
Furthermore, a home buyer’s perception of housing conditions is formed not only by
attributes of the chosen dwelling, but also by attributes of alternatives not chosen.
Deliberation and high involvement in housing decision, which is often evoked by
anticipated regret, can result in more careful evaluation and more CFT about possible
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