Irene has been saving up and searching for the right house to buy. However, she feels disappointed because after spending an entire month researching and looking at a number of houses, she did not find the right one. The disappointment that Irene is experiencing can be best described by the term _____.
A) bounded rationality
B) search regret
C) perceived risk
D) absolute threshold

Question

Quizplus · Accepted Answer

Search regret is a feeling of disappointment or dissatisfaction that arises from the feeling that one should have explored more alternatives or continued the search before making a final decision. Irene's disappointment at not finding the right house after a month of searching is a classic example of search regret. Bounded rationality refers to making decisions based on limited information or cognitive processing ability, perceived risk refers to the subjective belief that an action or decision could have negative consequences, and absolute threshold refers to the minimum level of stimulus required for a person to perceive a sensation. None of these concepts fully capture Irene's experience of disappointment.

Irene Has Been Saving Up and Searching for the Right