The paper proposes a framework to extend regret theory to dynamic contexts. The key idea is to conceive of a dynamic … decision problem with regret as an intra-personal game in which the agent forms conjectures about the behaviour of the various … across either time or contingencies. In the first case, regret might lead to excess conservatism or a tendency to make up for …

behavioural models suggested by psychology (i.e., weighted probabilities applied to regret and rejoice theory), and by updating …