ISSN : 1229-0653
In the present study, we attempted to explain why people keep losing stocks too long (the disposition effect) with anticipated counterfactual regret. For this aim, we investigated what kinds of prefactual thinking people had when they had a losing stock facing potential loss (study 1) and whether anticipated counterfactual regret had influence on their investment decision (study 2). The results of study 1 demonstrated that people did various kinds of prefactual thinking facing a losing investment situation but that withdrawal regret was the most frequent type. The results of study 2 showed that people made decisions depending on what kind of anticipated counterfactual regret was felt more strongly. That is, those who felt the withdrawal regret more strongly decided to keep their stock, while those who felt the persistence regret more strongly decided to sell their stock. The effect of anticipated counterfactual regret was significant even after controlling related personal variables (e.g., self-enhancing bias, risk taking tendency). Finally, the implication of the results was discussed.
이흥표 (2002). 비합리적 도박신념, 도박동기 및 위험감수 성향과 병적 도박의 관계. 고려대학교 박사학위논문.
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