Ramon opened a combination laundry and dry cleaning establishment three years ago.Due to his excellent service and reasonable prices,his business has grown and is doing quite well financially.He has considered expanding this business by opening another location but keeps putting off that decision for fear that the second location will not be a success.Ramon is currently displaying which one of the following behavior characteristics?

Question

Quizplus · Accepted Answer

Ramon's behavior is displaying regret aversion, which refers to the tendency to avoid making decisions in order to avoid future regret or disappointment. Ramon fears that the second location will not be successful, which is causing him to delay the decision to expand. He is avoiding the possibility of regret that might result from a failed expansion.

Ramon Opened a Combination Laundry and Dry Cleaning Establishment Three