H8: Upward CFT mediates the effect of anticipated regret on experienced regret.
Many researchers have demonstrated the positive effect of upward CFT on negative
emotions, such as regret and dissatisfaction (e.g. Kahneman & Miller, 1986; Landman,
1987; Roese, 1994). However, there are exceptions. For example, Roese (1994) found that
people with upward CFT did not feel worse than those without. Nevertheless, it is thought
that upward CFT will generate dissatisfaction for most home buyers because of the
irreversibility and infrequent re-purchase in housing transactions. As such, the following
hypothesis will be tested: