The Brainy Business | Understanding the Psychology of Why People Buy | Behavioral Economics cover image

68. Counterfactual Thinking: Why We ‘What If’ And ‘If Only’ (A Behavioral Economics Foundations Episode)

The Brainy Business | Understanding the Psychology of Why People Buy | Behavioral Economics

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Counterfactual Thinking

Counterfactual thinking is a fancy way to say what if or if only. We all have regrets on actions taken or not taken, and these are represented in our brains via counterfactual thinking. While this can be taken to the extreme so that it causes problems, they're also useful in setting and accomplishing goals.

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