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Regret is a negative emotion, and it is well-known. The exploration of regret canbe traced back to very early time; however, it begins to appear flourishing only inrecent years. The empirical research of regret began in1980s, and boomed in1990s.This article has two big parts. The first part mainly discusses the state of theresearch of regret in the last30years. In the first place, we discuss the concept ofregret, and based on the definitions of the previous researchers, we redefine regret:regret is a senior complex social negative emotion whose generation depends oncounterfactual thinking to the worse outcomes provided by the alternative choice. Inthe second place, we explore the model of regret, and argue there are4importantmodel of regret in the last30years. And the third, we summarize the various factorswhat is affect the regret. Last and most important, we calculate and analyze domesticand foreign literature on regret.The second part is the main part. On the basis of previous research, we constructa new and initial model of regret: pay-repay model, aim to unify all the previouslyvarious evidence and the other different theories. The pay-repay model of regretspecifically includes several views as follow:Firstly, regret is not entire negative, and it contains some positive elements;Secondly, the underlying reason of the appearance of regret is human s securityneeds;Thirdly, in the events of typeⅠ, the law of regret is “action effect”, while in theevents of typeⅡ, the law of regret is “inaction effect”;Finally, the individuals will feel regret when the pay utility is more than therepay utility.
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