This study investigates investment decision behavior. Specifically, the effects of a person’s ‘experienced regret’ and ‘anticipatory regret’ are compared to the effects of an individual’s risk tolerance on investment decision behavior. An individual’s risk tolerance and ‘experienced regret’ significantly influenced decisions. Anticipation of potential future regret did not predict subsequent investment decision behavior. The experience of regret with a particular type of investment did reduce one’s tendency to make a similar investment. The individual’s risk tolerance was predictive of participants’ investment decision behavior regardless of regret condition. Practical implicatoins of these findings for financial counseling are presented. Keywords: risk tolerance, regret avoidance, personal financial behavior

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