Regret Aversion
Also called: fear of regret, anticipated regret
Regret aversion is choosing to minimise future regret rather than to maximise expected outcome. It favours inaction, because errors of commission feel worse than errors of omission, and it favours conventional choices, because being wrong with everyone else stings less. It's the honest reason dollar-cost averaging often beats lump-sum investing in practice despite losing on the maths.
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