Regret, Consistency, and Choice: An Opportunity X Mitigation Framework

Over time, research programs focusing on the processes that underlie dissonance and regret diverged to the point that the present literature only occasionally draws explicit connections between regret and consistency seeking processes. One of our aims in this chapter is to reestablish the connection between regret and consistency within the context of a theory that examines two independent factors that critically interact to enhance or diminish regret. The first of these is opportunity, which includes both perceptions of past opportunities to make alternative choices and future opportunities to take corrective actions, and the second is mitigation, which is the ability to justify one's actions or otherwise engage regulatory processes that allow for the diminishment of regret. We examine both opportunity and mitigation separately before describing how the two may interact to elicit differential experiences of regret