Abstract

Counterfactual thinking (i.e., thoughts of what might have been) is a mental time travel to past and its alternatives. The phenomenon of counterfactual thinking has been actively studied over the decades in the field of Social Psychology, yielding important insights into how human cognition, affect, and behavior are interconnected. From a functional perspective, the present study reviews literature on how counterfactuals are related to diverse experiences such as affect, motivation, judgment, decision making, self-concept, and interpersonal relationships. Furthermore, the present study proposes new direction for future research in counterfactual thinking. Implications for application of counterfactuals and interdisciplinary research are discussed.