Regret makes us irrational

Reading Time: 4 minutes

Let’s assume you are looking for a house. Your dream house is at a lake and has a lot of rooms. After weeks of house-hunting, you finally find it. It is beautiful and it is exactly like in your imagination. After you make some calculations, you know you can’t afford it. The mortgage will cost a lot every month. The real estate agent tells you there are a lot of other interested parties. You want it even more! You fear that this house won’t be in your hands. This is the last chance!
The feeling of potential regret makes us irrational. Even when you realize it, you will lose a lot. You consider buying it. But why?

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