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Regret is the most frequently studied emotion in decision making. The aim of the present review is to offer a systematic analysis of experimental studies on regret in decision making, in order to highlight the most robust findings and to bring up inconsistencies and open issues. We first analyze the complex phenomenology of regret and then discuss the main theories of regret in decision making. Finally, we present a selective review of the most significant studies devoted to the neural processes underlying regret.