Do you have deep regrets about some of your past decisions?

A solid “No!” to this question should be much more concerning than a “Yes”.  Regrets make us human, as Daniel Pink argues in his new book The Power of Regret. What’s more, regrets can help us become better humans, if we learn something from them along the way.

Drawing from his own research as well as previous studies, Pink claims that people feel regret quite often. He identifies four core categories of regret:

1. Foundation regrets
“If only I’d done the work.”
These are regrets where we opt for short-term gains over long-term payoffs, like not studying hard enough in school or not saving enough money.

2. Boldness regrets
“If only I’d taken that risk.”
These are regrets of inaction, such as not starting a business, not asking someone on a date, or not going on trips. Research suggests that people regret failures to act more often than they regret actions.

3. Moral regrets
“If only I’d done the right thing.”
These often seem to hurt the most and last the longest. They involve taking what our conscience says is a wrong path, such as lying, stealing, betraying or hurting someone. I found it actually quite heartwarming to read some of the examples Pink provided, such as lasting feelings of deep shame about not standing up for a bullied classmate in school. Surely, the fact that moral regrets are the most painful regrets says something nice about the human species.

4. Connection regrets.
“If only I’d reached out.”
These regrets stem from missed or broken relationships, such as when friends lose touch with each other over the years, or families remain estranged over a falling out that happened a long time ago.

How can we make the best use of our feelings of regret?

Pink fights the common idea that it would be a good thing to have no regrets. He argues that regret fulfills an important function in motivating us to do better. He points to three benefits of regret:

• Regret can improve future decisions. Studies have shown that when people think about what they regretted not doing in the past, they made better decisions later on.
• Regret can boost performance. Researchers have found that even thinking about other people’s regrets led to improved test scores.
• Regret can deepen meaning. Examining regrets can help us clarify our life’s purpose and steer toward meaning.

On the other hand – there’s a dark side to regrets

All that said, I also often see that regrets – or rather the fear of regrets – can be paralyzing. My clients often tell me the one thing that makes their decision the most difficult is the fear they might regret their choice later. This fear is often influenced by past regrets that are still painful. So what should you do if the fear of future regrets is paralyzing your current decisions?

While I agree that past regrets can be very powerful in informing our future decisions, I do want to point out that they are not always rational. We often judge our past decisions with hindsight bias. Once we know the consequences of our actions or inactions (after they happen) it’s easy to see how we should have acted differently. In the moment we had to decide, chances are we simply didn’t know all that.

How can we avoid the kind of regret that’s based on hindsight bias?

• A “therapy” for regret is to remind yourself of what you knew at the time you made the decision. If you considered the possible consequences at the time you made the choice, and linked reasonable probabilities to them, that’s all that can be expected of anyone. In the case of extremely unlikely events, even that may be too much to expect. (If you didn’t take these things into account when you could have, that’s another matter. Then the regret you feel might be a good opportunity to start learning and practicing a more rational approach to your decisions.)
• Even better than therapy is inoculation. You can “inoculate” yourself against future regret before you make a decision by (a) preparing yourself to live with the worst-case scenario and also (b) preparing to remind yourself of what little was known at the time you made the decision.

Fear of regret can cause decision avoidance or paralysis. These can come at a high cost in the long run. In fact, there’s a sad irony to that, given that people tend to regret inaction more often than action.

Inoculation against regret can therefore play a very important role in helping you be courageous enough to actively and rationally decide in the first place, rather than avoiding the decision and letting fate (who’s not always on our side) take over.

by Ursina Teuscher (PhD), at Teuscher Decision Coaching, Portland OR