Kruger, J., Wirtz, D., & Miller, D. T. (2005). Counterfactual Thinking and the First Instinct Fallacy. Journal of Personality and Social Psychology, 88(5), 725-735.

Most people believe that they should avoid changing their answer when taking multiple-choice tests. Virtually all research on this topic, however, has suggested that this strategy is ill-founded: Most answer changes are from incorrect to correct, and people who change their answers usually improve their test scores. Why do people believe in this strategy if …

Medvec, V. H., Madey, S. F., & Gilovich, T. (1995). When less is more: Counterfactual thinking and satisfaction among Olympic medalists. Journal of Personality and Social Psychology, 69(4), 603-610.

Research on counterfactual thinking has shown that people’s emotional responses to events are influenced by their thoughts about “what might have been.” The authors extend these findings by documenting a familiar occasion in which those who are objectively better off nonetheless feel worse. In particular, an analysis of the emotional reactions of bronze and silver …

Kray, L. J., George, L. G., Liljenquist, K. A., Galinsky, A. D., Tetlock, P. E., & Roese, N. J. (2010). From what might have been to what must have been: Counterfactual thinking creates meaning.

Four experiments explored whether 2 uniquely human characteristics—counterfactual thinking (imagining alternatives to the past) and the fundamental drive to create meaning in life—are causally related. Rather than implying a random quality to life, the authors hypothesized and found that counterfactual thinking heightens the meaningfulness of key life experiences. Reflecting on alternative pathways to pivotal turning …