psychometrics

n. the branch of psychology concerned with the quantification and measurement of mental attributes, behavior, performance, and the like, as well as with the design, analysis, and improvement of the tests, questionnaires, and other instruments used in such measurement. Also called psychometric psychology; psychometry.

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Psychology term of the day

December 22nd 2024

regret theory

a model of decision making that states that people’s fear of, and previous experience with, regretting poor choices plays a large role in motivating or deterring their behavior in situations involving uncertainty. For example, a person who regrets buying, on the advice of a good friend, a used car that subsequently requires expensive repairs likely will disregard the friend’s advice in the future in order to avoid the potential for similar regret. Within this framework, regret is considered to have two distinct components—the wish that one had chosen differently and the self-recrimination involved in believing one made an error in judgment. Associated with behavioral economics, regret theory is a parallel to prospect theory. See also anticipatory regret. [originally proposed in 1982 by British economists Graham C. Loomes (1950– ) and Robert Sugden (1949– )]