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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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Remedy and Counterfactual Thinking Go Hand in Hand

The first theoretical explanation of counterfactual thinking came from Kahneman and Miller back in 1986. There are a few things to consider when looking at counterfactuals, beside whether they're upward or downward. We also want to know if they are omissions or commissions, ruminations or undoings, usual or extreme,. And if they cause negative impact like anxiety or distress, or how they can be used for good.

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