Regret or Loss

Human nature programs us to feel regret when hindsight reveals that our decision turned out badly. Thoughts of "woulda, coulda, shoulda" run through your mind. But that's not the same thing as loss. That's life. Say you buy a new Saturn in March for $15,000. You tell all your friends about the great deal you negotiated.

In April, General Motors announces a $3,000 rebate program or zero percent financing for three years. Have you suffered a loss? No, at the time you bought, you (presumably) got the best deal available. But do you kick yourself for not waiting? Do you, after the fact, concoct stories about how you felt GM would soon come out with a rebate deal, but immediate gratification overwhelmed your perceptive talents?1 Probably yes, if you're like most people.

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