Decision makers faced with an opportunity to learn the outcome of a foregone alternative must balance anticipated regret, should that information be unfavorable, with the potential benefits of this information in reducing experienced regret. Counterfactual seeking, the choice to learn more about foregone alternatives, may be a functional, regret-regulating strategy for individuals already exper...

tend to overestimate their own awareness and underestimate its bounds. As a result, they often overlook information that is crucial to making successful decisions.